There are other indications that last week's fury [at Wall Street and particularly AIG] may be calming. The Wall Street Journal reports that "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." It seems the administration "has concluded that it needs the private sector to play a central role in fixing the economy." Brilliant, guys. We could have told you that.
Problem: "Weeks of searing criticism by politicians and the public had left bankers leery of working with the government." Isn't Obama among those who spent years arguing that President Bush's arrogant my-way-or-the-highway attitude toward foreign policy harmed America by alienating friend and foe alike? Whatever you think of that insight, did it not occur to the new president that it might have some applicability in domestic politics?
It looks that the Obama administration may be a little late “toning down its Wall Street bashing.”
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