Barrack Obama has now decided that demagoguery is the new solution to the problems of unemployment and out of control deficits. The financial service industry is an easy target, why not them?
The President still can't seem to get his arms around the idea that what the country needs are policies that will put people back to work and get the economy humming again.
The country doesn't need more hate-filled rhetoric against business from the White House. The country doesn't need more punitive taxes laid on anyone, including on Wall Street. The country needs hope and a vision that the business community can galvanize around. That would lead to job creation and prosperity. Villification and confrontation with businesses, including Wall Street businesses, is not the answer. The Obama Administration's political posturing as angry about Wall Street is absurd. It is a completely cynical political ploy.
It is going to be hard to get American growing again with this President. Obama's animosity toward business, and thus indirectly toward American workers, is unprecedented. This animosity, coupled with anti-business policies is stifling the American economy. It may have already destroyed Obama's effectiveness as a President.
What is needed is encouragement to the business community. They are the only source of private sector jobs. There is no other. When will Obama understand this?