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President Obama is meeting with the heads of top banks today; according to Reuters, he will "quiz [them] about developments in the economy and their businesses as his administration seeks broader authority to regulate the financial system." However, the Treasury Department faces a battle with getting those policies passed; the NY Times reports, "Even though [Treasury Secretary] Geithner carefully avoided specific details, laying out mostly broad principles for overhauling the system, financial industry groups are identifying issues they plan to pursue and lining up well-connected lobbyists and publicists to help make their cases." Yesterday, the Dow Jones Industrial Average closed just under the 8,000 mark, at 7,924 points; stock futures suggest the market will open lower, "taking a breather after a week in which equities have surged amid hopes the economy has begun to stabilize," per the Wall Street Journal.
Obama To Meet With Top Banks
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Break them up.
Bring back Glass-Steagall.
"Good morning, gentlemen. As you know, the demands on my time are extreme. So this is going to be a very short meeting."
"I'm going to give you ten minutes to explain why we shouldn't nationalize you and kick all your incompetent asses to the curb."
(Checks watch.)
"GO!"
He only grandstands like that on camera. He'll fold like a cheap suit. NAFTA, Patriot Act, FISA, token bonus caps, Iraq....Bush's shitty policies with the smarmy charm of Clinton.
"He only grandstands like that on camera. He'll fold like a cheap suit."
A man can hope, can't he? That said, you're probably right.