Wall Street Haterade

I know that comes as a shock to some of you as you're convinced President Obama is nothing more than a Wall Street stooge, but the simple fact of the matter is Wall Street despises the President and openly signals their contempt of the man on a regular basis.  Case in point, John Mariotti in Forbes magazine this weekend opens with this:

Few Americans needed Standard & Poor to confirm the mismanagement of the United States government and its finances. The downgrading of American credit will raise interest rates on America’s huge debt and ultimately on all Americans. Popular polls say that most Americans blame Congress—but that’s too simplistic. As much as Barack Obama would like to shift that blame onto Congress, the fault lies squarely on the shoulders of President. It is first and foremost a leadership problem that is crippling America—and the leader is President Barack Obama—not the many members of Congress.

No matter how many speeches he makes, the conclusion is clear: Obama’s greatest failure is spending America into enormous deficits, and being clueless about how to get the economy to recover. His speeches, riddled with “I” and “We” are mostly serving to indict him for his failings. Appearing on TV more than any other sitting president, Barack Obama is constantly “explaining” why things aren’t working, when he should be working on what to do different and better.

Instead he is “campaigning,” which is the only thing he knows how to do reasonable well. But he can’t fix the economy; he has neither the experience nor the knowhow to do it. His failed, misguided policies have only exacerbated the size of his mistakes and shortcomings.

If this sounds exactly like Republican Tea Party talk radio screamer stuff, that's because it is (and Mariotti continues on for some length about the "Redistributionist-in-Chief".)  He hits all the old sour notes:  the President is not too bright, he has no business experience, he's a socialist, he's arrogant, he's always campaigning, stomping on every key in the Obama Derangement Syndrome keyboard.

He then goes on to rewrite Dubya's Presidential history (TARP and the Medicare Part D drug benefit were wildly successful, and who really cares about those wars anyway, not when Obama is crushing business with regulations!) and piles on President Obama's "minions" like Nancy Pelosi, who "spent us into a hole".  It was a good thing Hillary Clinton stopped him from giving the country away to America's enemies and all. (and yes, PUMA nonsense abounds in this article).

But Limbaugh talking points being spewed out all over the nation's financial magazines is nothing new.  Wall Street wants Dubya back, somebody easily controlled and who will be one of them despite being a complete failure at being an entrepreneur, someone who give them all they want without complaining.

Point this one out next time someone says President Obama is a Wall Street flunky, because the truth is they can barely hide their revulsion of even a moderate black Democrat in charge.  Obama Derangement Syndrome?  That's a market Wall Street is eager to buy, buy, buy.

The truth is America is in economic peril right now, and Wall Street is making sure their Republicans on the payroll are doing nothing to solve the problem in a way that makes the Masters of the Universe have to give up anything.  Wall Street's more than happy to make sure nothing improves between now and November 2012, after all they've got jobs to offshore, profits to reap, and voters to depress.  Democrats have put up jobs bills, and every single one has been blocked by the House GOP, knowing that if no jobs bill passes, they can blame Obama for no jobs.

How the President puts up with it, I have no idea.  He's a stronger man than myself.