Oh my. Newsweek journalist Michael Hirsh gives a blow by blow on how Obama got rolled by Wall Street. Here's just a snippet:
He had arrived in office perceived by some as the second coming of Franklin Delano Roosevelt. Yet Obama hadn’t acted much like FDR in the ensuing months. Instead he had faithfully channeled Summers and Geithner and their conservative approach to stimulus and reform. Early on, Obama’s two key economic officials had argued down Christina Romer, the new chairwoman of the Council of Economic Advisers, when she suggested a massive $1.2 trillion stimulus to make up for the collapse of private demand. They opted for slightly less than $800 billion. “We believe that this is a properly sized approach to move the economy forward,” said Summers, who didn’t want to expand the federal deficit or worry the bond market. With the recession still darkening their outlook, Summers and Geithner also didn’t want to tamper too much with what they still saw as the economy’s engine room: Wall Street. Partly on their advice, the president “explicitly decided not to break up all big financial institutions,” said another top economic adviser, Austan Goolsbee.
That ain't no lie. But tell me, Joe Q. Public, when are you going to start paying attention to the issues and details on voting records, money and policy positions instead of making an election a personality contest? Hmmm? Ya all were gaga over Obama to the point of nausea.