New York State Attorney General Eric Schneiderman may go down as the most important public official in reforming the corrupt financial system -- if he can hold out against pressure from Wall Street, the Federal Reserve, and the Obama administration.
Since he debuted on the political stage with the keynote address at the 2004 Democratic Convention, Republicans have suspected that Barack Obama was a Marxist. It turns out they were right: He's Groucho.
Obama hides his unconditional surrender behind clichés about bipartisanship and compromise -- while putting on a stern countenance and turning his fierce rhetoric against those unspeakable purists whom he has just sold out.
Politico has a cover story today filled with lament over that time the Obama administration was mean to the business community. Doesn't Obama want to extend his political career? Isn't that the whole point of being president?
Conventional wisdom has it that Wall Street is the ultimate bastion of free-market capitalism and that the big bankers are, of course, diehard Republicans, red to the core. But the truth is far from that.
You can't buy the kind of free publicity extended by today's New York Times, which quotes extensively from Daniel Loeb's political rant in, "Why Wall St. Is Deserting Obama," a 1,200-word piece devoid of critical analysis.