Obama Needs To Coddle Wall Street Even More Or He's Doomed, Argues Politico

[laughingliberal]

In the grand Politico tradition of being very late to a story and witlessly enamored of the most conventional wisdom available, the Beltway press release mill has a cover story today filled with lament over that time the Obama administration was mean to the business community. Doesn't Obama want to extend his political career? Isn't that the whole point of being President? Well, he had better bring his "apology tour" to the Chamber of Commerce, then!

If President Barack Obama has any hope for a truce with corporate America in time for his 2012 reelection campaign, he needs to drop the name-calling, try to see their point of view better and step up with some specific proposals.
"No amount of relationship-building is a substitute for policy," said Johanna Schneider, executive director for external affairs at the Business Roundtable, which was once one of the administration's most enduring corporate allies.
"We have to see some concrete policies that will help grow business because everyone's goal is to grow jobs. This isn't hocus-pocus. There are concrete steps to take for job growth," she added. <snip>

<snip> On a substantive front, after he took office Obama continued George Bush's rescue of the banking system, boosted the economy by passing a stimulus bill, and saved untold thousands of businesses by rescuing GM and Chrysler. His healthcare reform bill was so business friendly it's a wonder the industry didn't keel over in hypoglycemic shock after it was passed. On the rhetorical front, he's taken a few modest shots at the financial industry, but not much more. So what were they all so apoplectic about?
Well, I might have said that the business community was apoplectic over the financial regulatory bill that was passed through Congress, were it not for the fact that it might as well have been named the "Do You Have Enough Loopholes To Continue Your Crazy Casino Speculation In Synthetic Derivatives, Wall Street? Please Let Us Know Act Of 2010." <snip>

Full article (worth the read): http://www.huffingtonpost.com/2010/11/23/obama-wall-street-politico_n_787495.html

[eleny]

1. Sounds more like a threat than advice

He needs to "try to see their point of view better"?

Indeed.

[Bonhomme Richard]

2. If so then we are all doomed. n/t

[laughingliberal]

3. +1 nt