Obama hoping for a Wall Street job some day?

TPP is another example of OBama making his bones - for life after the WH

He's just as much a corporate puppet as Clinton (take your pick which)

"Impeachment off the table" feel good times.

They cannot act on impulse on major things. Careful consideration of effects of changes is essential. In that regard, President Obama is probably one of our most thoughtful and careful Presidents in my lifetime.

I doubt he has ever made a decision on the spur of the moment.

to act. He must be big on incrementalism like his buddy Hillary.

He is thoughtful and careful? Really? The man that said he didn't plan for what happened after they got rid of the dictator in Libya?

Oh what tangle webs we weave...

In many respects, that's a good thing because he's done a lot of good and he's also wielding a hefty bat right now to establish some exclamation points in the waning days of his Presidency.

But he's also being defensive and revealing his centrist leanings in doing so. Keep in mind that Rahm Emmanuel was Obama's Chief of Staff and right hand man when he said "Fuck the liberals".

collapse will occur, it is only a matter of time. That should do wonders for the legacy Obama is oh so worried about.

the too big to fail banks alone because the people who run those banks are really mean and could do bad things if we threaten their stranglehold on the financial system. Hopefully President Clinton will continue the fine tradition of appointing one of them to run the treasury department so that there will be no hint of discomfort with a sensible centrist Democratic administration.

“But one of the things that I’ve consistently tried to remind myself during the course of my presidency is that the economy is not an abstraction,” he said. “It’s not something that you can just redesign and break up and put back together again without consequences.”

Can someone point to me where Bernie said this was a simple process, as Obama appears to be implying?

In addition, as much respect as I have for Obama, this is an example of where the party has simply failed the middle and lower class. The "things are ok the way they are" approach is not working for those people. The banks are once again in the "too big to fail" status. Where is the support to reinstate Glass Steagall? Certainly not coming from the presumptive Democratic Nominee.

misinterpretation ..imo

believes breaking up banks is an option.

snip

To that end, Kashkari continued, "the Federal Reserve Bank of Minneapolis is launching a major initiative to develop an actionable plan to end [too-big-to-fail, or TBTF], and we will deliver our plan to the public by the end of the year. Ultimately Congress must decide whether such a transformational restructuring of our financial system is justified in order to mitigate the ongoing risks posed by large banks."

Among the solutions he floated: "breaking up large banks into smaller, less connected, less important entities" and "turning large banks into public utilities by forcing them to hold so much capital that they virtually can't fail (with regulation akin to that of a nuclear power plant)."

Which is it? Depends on the M$M glasses you are wearing at the time.

http://www.democraticunderground.com/12511859011

The man who chose NY Ferderal Reserve chairman, Timothy Geitner, as his Treasury Secretary, (and got such wonderful input from Larry Summers) wants to let the big banks and Wall Street firms be.

Makes complete sense to me.

Even more of the economy. Under the rules, they should be told to break up, re-design... Get the Ma Bell treatment. Many of our large corporations need a Ma Bell moment in my opinion.

And it's not as if the big banks are behaving. Goldman just paid out $5billion for defrauding people. No one is in jail. And the CEO probably got a bonus.

Tell the banks to decide how to break themselves up - to create a plan to make themselves smaller. Government just approves the plan. But government as regulator is a theory left in the dustbin of a more civilized era.

and this is one of those times.

..."It is true that we have not dismantled the financial system"... which is, of course, a false equivalency.

Breaking up the biggest banks / financial institutions is NOT "dismantling the financial system". It is bringing the financial system under control.

Politicians choose their words carefully, in order to frame the debate. That is what Obama is doing here. It is a fundamentally defensive posture that he is expressing here, because he knows damned well that he failed to do what should have been done in response to the financial crisis.

Not buying his "rebuke". Sorry, Obama. I like you a lot, but in this case, you are the one who deserves rebuke.