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. Continue reading
