It didn’t take long for Obama’s anti-Wall Street rhetoric to start to come back to haunt him. Already the New York Times is reporting that anger at the financial services industry is threatening to put a wrench in Obama’s agenda.
I never understood why the President decided to switch from “Yes, We Can” to “Look at what they did.” It was so off-brand for Obama. And given Bush’s horrendous approval ratings and the nonstop news coverage of the evil done by Wall Street, Obama would have been better off focusing on the future and not on the past. Why further drive people against Wall Street? Was that really necessary to get the stimulus passed? Always seemed like gratuitous populism to me. And it seemed potentially very dangerous to amp up the anti-business hatred.
At some point, it will become clear that punishing the bad guys for their misdeeds will not be enough to fix our problems. At that point, Obama will need America to believe again in the value of the financial services industry. It is too bad that his own message has contributed to what will inevitably be a tougher sell down the road.
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Let me give you some advice, .. walk outside , wet your finger, stick it up into the air and find out which way the wind is blowing. Your idiotic comment “Obama would have been better off focusing on the future and not on the past” was made I suppose with reference to the ongoing clean up from all muck and woeful mess that has been deposited over the past 8 years, by conservative politics and “free market” economics. The remark thou, is an indication that you have no idea what the hell is going on in this economy, as well as the electorate at large.
Believe me, I understand what is happening with the electorate at large. Punishing the bad guys isn’t going to fix this mess. And every minute we spend doing it let’s the situation get worse. I have no doubt you have the answers because you seem to have no problem calling me an idiot. I suppose that answer is to take you pitchfork to everyone who ever worked at a bank or insurance company. Good luck with that.
If the financial industries are not willing to make sacrifices after sacrificing everyone else then they should get heat. After that however we need to rebuild and move on.
This market is only going to pull of out its nose dive when confidence begins to be restored.
There are a lot of actions that need to be taken, but those actions start with the right thoughts and decisions first and then the right words being spoken to represent those actions. “Right” in this case = “likely to inspire confidence”.
Money only changes hands in the presence of confidence.
I believe part of what you’re saying Michael is that we need to get to the business of restoring confidence and Obama should spend his efforts in that area, if he in fact wants to see this economy turn around any time soon.
Lastly, it’s in poor taste, in my opinion, to leave a comment anonymously like the first one above. If you’re going to take a stand so vehemently, don’t hide–stake your ground and take it.
Totally agree. Spending more time on pinning the blame on people will not solve the crisis at hand. Moving forward and looking for ways to actually fix it is the only way out of this mess.