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Kevin Drum: Obama Needs To Be Willing To Earn The Hate Of Bankers (VIDEO)

First Posted: 03/18/10 06:12 AM ET Updated: 05/25/11 04:10 PM ET

Barack Obama needs to be wiling to earn the hate of some bankers in order to pass financial reform. That was the sentiment of Mother Jones journalist Kevin Drum during an appearance with fellow Mother Jones reporter David Corn on Bill Moyers Journal. Both were there to discuss Wall Street's stranglehold on politics.

According to Corn, the push for reform is "not a fair fight." It pits average, middle-class Americans against a well-funded and influential financial services industry that brought the nation's economy to its knees.

Drum believes that Obama should listen to financial adviser Paul Volcker and former Fed chief Alan Greenspan and move to break up banks that are too big to fail. Both Drum and Corn believe the grassroots network that brought Obama to power could be effectively mobilized to fight for financial reform. But first, Obama has to commit to a new legislative agenda.

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Filed by T.J. Ortenzi  |