I’m with Simon Johnson here: how is it possible, at this late date, for Obama to be this clueless?
Obama doesn’t even make a pretense of thinking the general public might be angry at these bloated bonuses for bailed-out banksters. Apparently it doesn’t even occur to him. Rather he panders to the banksters ever more.
The point is that these bank executives are not free agents who are earning big bucks in fair competition; they run companies that are essentially wards of the state. There’s good reason to feel outraged at the growing appearance that we’re running a system of lemon socialism, in which losses are public but gains are private. And at the very least, you would think that Obama would understand the importance of acknowledging public anger over what’s happening.
But no. If the Bloomberg story is to be believed, Obama thinks his key to electoral success is to trumpet “the influence corporate leaders have had on his economic policies.”
This from a Nobel Prize winner in Economics.
Our democracy has been hijacked and Obama is complicit. No politician is as tone-deaf as Obama appears. What he is doing is quite deliberate.