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Obama To Bankers He's Been Scapegoating: I'm "The Only Thing Between You And The Pitchforks"

Muscle

In some cultures, inciting hatred against people by comparing them to suicide bombers and then using the resulting populist outrage as leverage would be considered a form of blackmail:

But President Barack Obama wasn't in a mood to hear them out. He stopped the conversation, and offered a blunt reminder of the public's reaction to such explanations. "Be careful how you make those statements, gentlemen. The public isn't buying that... My administration... is the only thing between you and the pitchforks." The fresh details of the meeting - some never before revealed - come from an account provided to POLITICO by one of the participants. A second source inside the meeting confirmed the details, and two other sources familiar with the meeting offered additional information.

At least Obama-style wealth redistribution - which Krauthammer described this morning as "Obama's Ultimate Agenda - isn't what created the financial crisis in the first place, setting up the bankers up for the rage that Obama is now directing against them:

We bail out the people who made all sorts of bad loans, and we punish the people who didn't? How's that for accountability? In all seriousness, the FDIC gave EBS a poor rating because it didn't advertise its rates well enough. It doesn't have a website, which is apparently a sin for FDIC-insured lenders. The FDIC said that EBS didn't have any "financial or legal impediments" to widening its lending, a remarkable statement considering the taxpayer monies getting thrown at companies that did widen their lending practices and wound up broke as a result. Pethokoukis uses this example to remind us how the CRA distorted lending markets and led to the housing bubble that devastated the economy.

Almost difficult to understand why Medvedev has taken to referring to the President as "comrade" Obama.

References:
* Obama: AIG Is Like A Suicide Bomber. One Of Those Bad Suicide Bombers. [MR]
* Inside Obama's bank CEOs meeting [Politico]
* Obama's Ultimate Agenda [Krauthammer / WaPo]
* The financial crisis, in a nutshell [Hot Air]
* Russia's Medvedev hails 'comrade' Obama [AFP]

Previously:
* Actually "The World" Is Kind Of Unhappy With Obama
* Liberals Slowly Realizing That Obama Was Serious About His Disastrous Economic Proposals
* Great News: Global Economy In Full Meltdown, Obama Transition Team Panicking

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  • Omri Ceren is a PhD candidate studying Rhetoric at the University of Southern California's Annenberg School for Communication. He lives in downtown Los Angeles.

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