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View Diary: The Obama Administration Protection of Wall Street Criminals - A Possible Explanation (326 comments)

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  •  I'll say one thing for the Obama administration (7+ / 0-)

    They certainly succeeded in redefining the word "Hope."

    As I try to find answers, one kind of crazy idea keep popping up in my head... It goes like this: He knows what's going on; he fully understands the level of corruption, how endemic it is, and how widespread it is in the entire system.  And he came to the realization that he needed a long-term strategy to properly address the issue....

    I've been considering this theory because the other, more plausible, is too painful to consider: that Obama is in on it; that he knows he is protecting these criminals.

    •  I think he knows exactly what's going on (5+ / 0-)

      and that he and others have convinced themselves that the market will work it out naturally.  I will bet money that many in the inner circle believed that it would be possible to "work our way" out of the recession - as was done in the Clinton Era - but the problem is that they grossly underestimate the depth and breadth of the problem.  That "working our way out" can only happen if there are foundational adjustments made to put the financial markets on more sound footing.  None of that has happened - the tepid Dodd-Frank bill and the consumer protections are nice, but neither really addresses the fundamental issues - problematic deal structures that are still being put together even after it was proved that these deals are structurally unsound.  It is not okay.

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