When Obama Ate Wall Street

The Saga Continues

In 2008, simply put, Wall Street ate Main Street. In 2010, President Obama ate Wall Street. In one fell swoop the Obama Administration changed the United States marketplace from an extremely unregulated market into an economy of hyper regulation. The federal government can now review, liquidate, and regulate any financial institution it so desires. This explosion of federal regulation has not gone unnoticed, with members of Congress, economists, and even the Congressional Budget Office lodging complaints about the new legislation. Yet our Campaigner-In Chief, a.k.a. President Obama, seems to ignore these constructive criticisms and only seems intent on continuously being his own personal cheerleader. This "look at me, look at me" attitude has not been uncommon throughout this process with Senator Harry Reid doing much the same thing to save his own political career. This post is simply the follow up to "When Wall Street Ate Main Street" and will help the reader understand the drastic shift that has been taken in America's economic policy.

When Wall Street Ate Main Street

The Bull

In 2008, simply put, Wall Street ate Main Street. House were foreclosed upon left and right, massive layoffs rippled throughout the country, and big business was deemed 'too big to fail' and was fed until fat upon the American tax payer's dollars. Now, almost two years later with unemployment rates still hovering at or near 10 percent and with little of the Wall Street Bailout money having any effect on everyday America, we want to ensure that this never happens again. We have looked into the bulls horns once; we will not do so again. Yet for the second time this week Senate republicans halted the democrats Wall Street Reform Bill before it could reach open debate. Democrats cry 'foul' and scream 'obstructionist' at the their republican counterparts (and even one of their own). Is it just 'the politics of no' reasserting itself in the petty politics to which we have grown all to accustom, or is it something more?