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For a Day, Obama Shifts Focus to Wall Street

By Ben Pershing
Amid the current intense focus on the need for health-care reform, it's easy to forget that at this time last year, the political world was consumed by a much different kind of crisis.

Today, President Obama heads to New York to attempt to revive his push for an overhaul of the financial regulatory system, giving a speech at Federal Hall on the one-year anniversary of the fall of Lehman Brothers. Obama's address and those of other top administration officials are "aimed at blunting criticism that they lack an 'exit strategy' for withdrawing their support for the financial system with speeches and documents timed for the first anniversary of the worst moments of the crisis," the Wall Street Journal writes. An exit strategy from what? The New York Times reminds that the federal government is currently "the nation's biggest lender, insurer, automaker and guarantor against risk for investors large and small," and that "government spending accounts for a bigger share of the nation's economy -- 26 percent -- than at any time since World War II."

The address does give Obama the chance to do some gloating over what didn't happen after Lehman collapsed -- the economy, bad as it got, never went into a full-scale depression and the financial system, though it wobbled, never fell. For all the recent emphasis on health-care reform, Obama's long-term political health is at least as dependent on the direction of the economy as on health care, so the White House can be expected to tout each bit of evidence that the economy is rebounding between now and November 2010 (and 2012). A new Associated Press-GfK poll finds that "seven out of 10 Americans lack confidence the federal government has taken safeguards to prevent another financial industry meltdown," and 80 percent of respondents believe the current condition of the economy is "poor." The White House won't be amplifying this factoid: Bloomberg writes, "The U.S. recovery may be the slowest since World War II to regain all the ground lost during the recession, even if economists' more optimistic forecasts for expansion turn out to be right."

Continue reading at Political Browser »

By Ben Pershing  |  September 14, 2009; 8:30 AM ET
Categories:  The Rundown  
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Next: Obama Lunches with Bill Clinton

Comments

Try to imagine if you will someone walking into a right leaning organization asking if they can get help enslaving some underage black girls.

What page of the paper would that fall on?

Would the major networks cover the story?

What we have today is someone walking into a left leaning organization (that our President once worked for) and asking for help with enslaving some underage girls from South America.

By not putting this on the front page the main stream media is telling us that it is fine to enslave as long as they are illegal’s from South America and the organization in question is left leaning and getting funds from a left leaning administration.

When did slavery become okay again?

Posted by: RongCapsFan | September 14, 2009 3:36 PM | Report abuse

What happened to the paper that investigated Watergate?

A break in to get information at your opponents election headquarters, sounds like nothing compared to selling underage women on the streets by an organization that helped elect the President and continues to get govt money.

The Washington Post is a disgrace to it's history for not getting the word out on this.

After 40 years I am going to cancel my paper. They are lazy and slanted at the post, to the point of letting young girls suffer.

Posted by: RongCapsFan | September 14, 2009 3:04 PM | Report abuse

Days after the release of hidden-camera videos led to the firing of four ACORN workers in Baltimore and Washington who assisted an independent filmmaker posing as a pimp to apply for an illegal housing loan for a brothel, a third video has surfaced showing ACORN workers offering the same kind of assistance at the organization's office in Brooklyn, N.Y.

As in their previous undercover stings, filmmaker James O'Keefe, 25, and partner Hannah Giles, 20, who posed as a prostitute, received advice from ACORN workers on how to launder their earnings and avoid detection from law enforcement officials while running a prostitution business.

"You have to find another name for it," an ACORN employee tells the pair seeking a mortgage in the Brooklyn office. "Honesty is not going to get you the house. You can't say what you do for a living."

Posted by: lucygirl1 | September 14, 2009 10:34 AM | Report abuse

No Confidence appears to be turning from numerous reasons, to a congealing one that Obama is the enemy of this Country placed within to destroy us.
Is that sentiment, stated on DC streets in a sampling taken on every block at random, No Confidence on steroids or is it a view Obama is nurturing by his own actions.
Obama has no ability to recover these over one million people's confidence that came to Washington to wake Congress up, to remove Obama.

Posted by: dottydo | September 14, 2009 10:19 AM | Report abuse

COVERT FED MULTI-AGENCY PROGRAM ASSAULTS U.S. CITIZENS WITH HARMFUL MICROWAVE/LASER DIRECTED ENERGY WEAPONS

• Community-based vigilante stalking, harassment, financial exploitation enabled by federal and local law enforcement

• Is Team Obama naive, misinformed, or complicit?

http://nowpublic.com/world/gestapo-usa-govt-funded-vigilante-network-terrorizes-america

OR (if link is corrupted / disabled):

http://NowPublic.com/scrivener RE: "GESTAPO USA"

Posted by: scrivener50 | September 14, 2009 10:01 AM | Report abuse

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