Oh Goody, What We Got Is Yet Another Dim-Bulb Ivy Leaguer...

A line from "Operation Banking", the newest Obama cartoon:

"Barack H. Obama, super genius... I like the way that rolls out."

Call me cynical, but it seems Mr. Obama is determined to become the Wile E. Coyote of United States Presidents...

And here I was thinking he wanted to be the next Abe Lincoln.

Silly me!

Silly, silly me!

Anyway, from the Department of "Duh" (as reported by the Wall Street Journal):

The Obama administration, after months of criticizing Wall Street, has been scrambling to woo top bankers and financiers to back its latest bailout plan.

In recent days, in spite of public furor over huge bonuses paid at American International Group Inc., the administration has concluded that it needs the private sector to play a central role in fixing the economy. So over the weekend, the White House worked to tone down its Wall Street bashing and to win support from top bankers for the bailout plan announced Monday, which will rely on public-private investments to soak up toxic assets.

Gee, who coulda figgered that out two months ago... eh? You'da hadda been a super genius or sumpin!

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Update: It seems that many of our little Progressive friends are outraged - outraged, mind you - that the very same Wall Street executives who headlined the Obama's Administration's "Enemies of the People" list for the week of March 16th are somewhat disinclined to lend the Obama Adminstration a helping hand during the week of March 23rd. I could quote a dozen of them, but Shakesville's Melissa McEwan puts the matter in terms stupid enough to be representative of most Lefty bloggers' take on this development:

Did you get that? The bank execs are so worried about their fucking bonuses that they're holding the entire country hostage.

They're "slow-walking" information that the government desperately needs, and, worse yet, they're blackmailing the government by threatening to continue withholding credit to consumers and businesses if they don't get their precious bonuses. 

Yes, Melissa, we did get that. It's called human nature. To put it terms you could understand, it goes like this:

If you're going to cuss out your landlord in front of the entire neighborhood, make sure you have next month's rent in your pockets before you do it.

There's a reason for such caution. People tend to resent personal villification. They also tend to remember it. What Barack H. Obama, Super Genius, forgot was to make sure he had next month's rent in his pocket... So now he's in front of very pissed off landlord begging for an extra week to come through with the cash. 

Again... Duh.

This isn't about Wall Street executives protecting their own interests, it's about an Obama Administration that is so incompetent it cannot anticipate - literally from one week to the next (!) - who it will need to help them ensure the success of its own public policy agenda.

 

Comments

[Eric Blair]

Melissa McEwan is so funny because she's so clueless and shrill.

[Dennis The Peasant]

It's terrifying to remember that she was the other half of the Amanda Marcotte-Melissa McEwan tag team that was going to blog for John Edwards.

[jcw]

And, if you can imagine it, not the better looking half.

[PeterUK]

The Rage Tax on retention bonuses was quite brilliant,write bonuses into the scheme then renege.This should be sending a frison of confidence through the worlds investors.

[Allen]

Well, to 12 Watt bulb intellects 15 Watts would seem bright. It's clear Melissa can read an article and bold the parts that outrage her. Of course, the stress test that Treasury came up with is vital information. I suspect she might not know exactly what vital information is being slow walked. The last I heard about the stress test the main comment was "it's assinine."

[Eric Blair]

I wasn't going to bring up the Edwards thing, but yeah, both of them would have made quite the pair.