Matt Damon: Obama Has 'Rolled Over To Wall Street Completely'

Obama may be losing the faith of a famous and charismatic supporter ahead of the 2012 elections.

Academy Award-winning actor Matt Damon campaigned for Obama in 2008, but he recently offered some some harsh criticism of the president's economic approach. During the interview rounds promoting his latest film, "The Adjustment Bureau," Damon took aim at the White House's approach to big banks.

"I think he's rolled over to Wall Street completely. The economy has huge problems. We still have all these banks that are too big to fail. They're bigger and making more money than ever," Damon said in an interview with the U.K.'s Independent.

Damon also zeroed in on the Bush tax Cuts that Obama recently extended, a move which has been met with significant criticism. However, when The Independent inquired whether he'd be voting Republican in 2012, Damon was emphatic.

"Good God, no! I just got a 3 percent tax cut," Damon seemed to joke.

Last week, in an interview on "Piers Morgan Tonight," Damon criticized Obama's educational policy.

"I really think he misinterpreted his mandate. A friend of mine said to me the other day, I thought it was a great line, 'I no longer hope for audacity,'" Damon said. "He's doubled down on a lot of things, going back to education... the idea that we're testing kids and we're tying teachers salaries to how kids are performing on tests, that kind of mechanized thinking has nothing to do with higher order. We're training them, not teaching them."

Read the full article here at the Independent.

Comments

[TucsonChick28]

03:30 PM on 04/20/2011

I despise people who try and hurt the people who are helping them. What do you benefit from this Matt? Your are shooting yourself in the foot. Nobody perfect and politics never will be.

[dustyoh]

11:33 AM on 04/15/2011

On the one hand, Matt's got a point - on the other hand we don't really know the ins and outs of how Obama has had to "play the game". I will say this. I don't think Obama has rolled over because he has become corrupt or greedy on a personal level. I think he is rolling over because of the complexities of this bureaucratic system we call the US government. In that respect, maybe some of the previous supporters like Matt could find away to help Obama educate that masses that are so ignorant about economics as the ignorant (IE tea partiers) are tough to get around.

[Robin Brenizer]

08:14 PM on 04/14/2011

Maybe Matt should run for President.

[Robin Brenizer]

08:07 PM on 04/14/2011

I believe in our President and his ability to work through issues. They may be incremental moves, but sometimes that is what a complex problem calls for. I can not stand some of the people that Obama has made bedfellows in this but he has chosen some excellent people as well. Like Elizabeth Warren. I think he operates with wisdom in knowing how to actually create SUSTAINABLE change. That is very different than just making brash moves that are destined to fail because you have made powerful enemies that work to undermine your goals. Unfortunately, 1% of our population controls 40% of the wealth.

[Robin Brenizer]

08:02 PM on 04/14/2011

Keep your friends close and your enemies closer.

[builderman55]

09:23 PM on 03/12/2011

My fundamental problem with Obama (I voted for him enthusiastically) is that he quickly became an inside player. Staffing his administration with Fed/Goldman Sachs people immediately sent the wrong message. Dumping health care reform into Congress without providing a strong sense of what he wanted it to look like was a disaster. And then, not coming out aggressively in favor of a strong financial reform package, as well as pushing for hearings on the causes of the crisis was a huge missed opportunity. I understand that he has accomplished some good things, but he has been far too conciliatory to what I perceive as a fundamentally racist, White GOP leadership that hated him so much that there was no way they were going to work with him. And, like Damon, I will vote for him again, but only because there is absolutely no other opportunity

[Robin Brenizer]

08:10 PM on 04/14/2011

I voted for him for HCR. But let's get real. He couldn't have dismantled the entire health insurance industry just when we were in a huge recession, possibly depression.
The financial reforms I really do not understand other than he will have tremendous difficulty with his election and his own side of the isle if he doesn't play ball with the people funding them. It sucks.
I wish we could change our financing of political campaigns.

[builderman55]

01:02 AM on 04/15/2011

Robin Brenizer: The skill of leadership requires someone who is not a linear thinker. True leadership requires vision that transcends time and place. As was the case for Lincoln when he saw a transcendent vision of America way beyond slavery and the parochial interests that were the motives for war. Obama lacks that (and btw, I will vote for him again) in the sense that the best argument for universal health care is morally transcendent--there will be a time when people look back at our time and wonder how the richest country in the world could leave tens of millions uninsured, especially a country that was so professedly Christian, just as we look back at slavery and wonder how enlightened people could have tolerated it.

[Topps]

07:19 AM on 03/12/2011

Obviously Willis ain't talking about nothing ,and certainly not talking to me.

[bynddrvn5]

09:58 PM on 03/11/2011

The Republican­s counted on America having a very short memory and forgetting that they stood in the way of any and all regulation­s. They were apparently­, correct in this assumption­.

Here is what President Obama originally proposed to reform the financial services industry: http://blo­­gs.wsj.co­m­/washwir­e/­2009/06­/17­/obama­s-fi­nanci­al-re­form­-plan-­the­-conden­se­d-versio­n­/

This is the watered down financial regulation­­s that actually passed, thanks to the Republican­­s: http://the­­week.com/­a­rticle/i­nd­ex/2045­27/­obamas­-fin­ancia­l-ref­orm-­winner­s-a­nd-lose­rs

Senator Reid frustrated with the Republican­s blocking financial reform: http://www­­­­.youtub­e­.­c­om/w­at­ch­?v­=­2Mm­Cez­eI­o­1Q

Now the Republican­­s are trying to de-fund financial reform and apparently they were right that they would not be penalized for standing in the way of financial reform. Very frustrating!

[toldyeso]

08:04 PM on 03/11/2011

all the fools who belioeved that Obama was a more liberal choice than Hillary in 2008 didnt actually look at his record (the whole 2 years in the senate) when he was known as MR BIG Coal and took in record bucks from BP, the oil companies and wall Street.

Thyey just thought that sionce whe was black - he just had to be cooler - and so more progressive.

Bull - thats why the entire AFL CIO fought him like krazy till the last day.

and they were right, hes done nothing for labor and just this week - went against the Teamsters and allowed mexican trucks and drivers into the USA something even Bush never dare to.

hes a fake and his supporters are utter fooools.

[lyingtruth]

08:19 PM on 03/11/2011

You're too harsh: Unfanned. I am no longer a fan of toldyeso...!

I am a critic of Obama but I still support him because I understand politics.

It is you that is being utterly foolish and rude with such blanket declaration...!

[toldyeso]

10:17 AM on 03/12/2011

oh boo hoo - how shall i live?

[virtual0]

10:01 PM on 03/11/2011

So true. Fanned!

[obliquelook]

01:33 PM on 03/11/2011

Huff Post Super User: "Here is what President Obama originally proposed to reform the financial services industry: http://blo­­gs.wsj.co­m­/washwir­e/­2009/06­/17­/obama­s-fi­nanci­al-re­form­-plan-­the­-conden­se­d-versio­n­/" ........results were: "404: Page Not Found"

"This is the watered down financial regulation­­s that actually passed, thanks to the Republican­­": http://the­­week.com/­a­rticle/i­nd­ex/2045­27/­obamas­-fin­ancia­l-ref­orm-­winner­s-a­nd-lose­rs........Results were: "Page Not Found"

That DOES sum it up though doesn't it? The Financial Reform Bill was written by Democrats, The sub committees and committees were controlled by Democrats. The legislation was written by Democrats. Actually by K Street lobbyists who gave those same Democrats record "contributions" to their campaigns. (Easy to look up on opensecrets.org)

Matt Damon is correct. During the "negotiation" process Obama had Lloyd Blankfein over to the White House five times. Jamie Dimon eight times. This was not just being sociable. And NOT a coincidence. This legislation codified "Too Big To Fail" and empowered the giant banks.

At least the Democrats cut the out of control military spending and ended the wars and interventions......... Nope. Not that either. Obama has expanded the military spending at an even faster rate than Bush did. Obama has expanded the wars and interventions.....
How about another war or intervention to take our minds off all the problems that have been caused by BOTH Democrats and Republicans.

[Topps]

07:43 AM on 03/11/2011

Immature child acting because your opinion isn't accepted as the only and correct one.Get a life !

[bynddrvn5]

10:12 AM on 03/10/2011

The Republicans counted on America having a very short memory and forgetting that they stood in the way of any and all regulations. They were apparently, correct in this assumption.

Here is what President Obama originally proposed to reform the financial services industry: http://blo­gs.wsj.com­/washwire/­2009/06/17­/obamas-fi­nancial-re­form-plan-­the-conden­sed-versio­n/

This is the watered down financial regulation­s that actually passed, thanks to the Republican­s: http://the­week.com/a­rticle/ind­ex/204527/­obamas-fin­ancial-ref­orm-winner­s-and-lose­rs

Senator Reid frustrated with the Republicans blocking financial reform: http://www­­­.youtube­.­c­om/wat­ch­?v­=2Mm­Cez­eIo­1Q

Now the Republican­s are trying to de-fund financial reform and apparently they were right that they would not be penalized for standing in the way of financial reform.

The next financial crisis will be larger, unless we push for more protection­s.

John Boehner: http://joh­nboehner.h­ouse.gov/C­ontact/

Eric Cantor: http://www­.majorityl­eader.gov/­Contact/

Contact the White House: http://www­.whitehous­e.gov/cont­act

[db08]

04:54 PM on 03/10/2011

Thank you for an intelligent adult suggestion.

[portrait of a lady]

09:15 PM on 03/11/2011

And there WILL be a next financial crisis and before the next election.

[TheRedMantis]

11:19 PM on 03/09/2011

Inside Job was a great movie. I agreed with Matt before but I didn't realize how entrenched Larry Summers and the Ivy League schools are with Wall Street.

Good job Ferguson. See it.

March: Wall Street, Jersey City (Goldman Sachs) and Pennsylvania Ave.

[bynddrvn5]

10:12 AM on 03/10/2011

Awesome, movie!

[DaisyDog]

10:31 PM on 03/09/2011

So agree Matt Damon.

[kamact]

10:15 PM on 03/09/2011

Obama should run on the GOP ticket in 2012,...He has earned it. Now we need a viable progressive capitalist to oppose him and eventually represent the public's interests

[toldyeso]

08:06 PM on 03/11/2011

yup