HuffPost Editor Roy Sekoff appeared on The Ed Show Thursday night to weigh in on the new bank tax put forward by President Obama.
While Sekoff called the fee "a start," and applauded Obama's efforts to recoup taxpayer money from Wall Street, he also acknowledged that it wasn't a panacea.
"Look Ed, for the last year, the White House has been in the political equivalent of a torrid love affair with Wall Street. And being in bed is the last place you want to be headed into 2010," Roy said. "This is something he almost had to do. And it's a good thing. It's not a panacea. There's a lot that it doesn't do, It doesn't have structural reform, it doesn't stop the crazy bonuses, it doesn't stop CEO pay, and it doesn't keep the banks from being too-big-to-fail. But it's a good start."
Ed went on to ask Sekoff about Obama's latest approval ratings: 47 percent of Americans approve of the president' job, while 45 percent disapprove, according to "The National Journal." Sekoff believes that today's speech by Obama, announcing the tax is a start to turning around those numbers.