Is Obama-Love Holding the Economic Pitchforks & Torches at Bay?

Barack Obama may or may not turn out to be the great uniter, but with a performance approval nearing the 70s, he's definitely maintaining as the great common denominator.

He's also got a pretty good job, if you measure the success of a company and its chief by the amount of money it's taking in. He's the CEO of the U.S. government, after all, where business is definitely booming, despite Tim Geithner's inability to find a passable job applicant to help him out distributing that wad of bail-out dough. You'd think lots of people would want to do that, including at least a few who actually pay their taxes.

It may not feel this way when his teleprompter breaks down, but Mr. Obama's success as a measure of money in his hands is probably right up there during this horrifying, worldwide economic wedgie, with safe makers and high seas pirates.

But there's something else the president is doing effectively, charged rhetoric and gauntlet-throwing policies notwithstanding: he's doing a hell of a job keeping the lid on things.

How could that be? Mr. Obama gets slapped for hyperbolic scammery when he says something optimistic, then slammed as a giant albatross on the consciousness and confidence of the country every time he tells us how bad it is. The Chronicle ran a story last week that should have been headlined: Just Shut Up. Every time he says or does anything related to the economy, the story said, the market tanks.

Then there's the panic underneath the now fabled Obama calm as the Treasury Department tries to shovel out the door as fast as it can the TARP money designed to titillate the economy back to life, and the clashes with the overworked enforcers and trackers of all this activity. For instance, there's apparently a bounty for loan brokers of $1,000 for every loan modification applicant they turn up with. Friends of mine in the government business tell me that enforcement agencies tried to warn Treasury: hey, wait ten seconds. Can we just see if the applicants make a few payments before greasing the palms of the middle men(women)? Nope, says Treasury.

As Mr. Geithner said last week, "It is imperative that we continue to move with speed..." Yeah, but how about just enough prudence and checks to make sure we're not simply shoveling moolah down the mouths of the same kind of con artists who got us here? Even with new money in the budget for oversight, I hear law enforcement agencies are already eyeball deep in work and not ready to sniff out all the fabulous new ways the public and its funds will get fleeced.

We should hire Bernie Madoff to steal the money back. Or some of those derivative and subprime lending geniuses who at least understand how to untie the hangman's knot we're in because they're the ones who tied it to begin with. It worked for Willie Sutton, and that real-life guy played by Leonard DiCaprio in "Catch Me If You Can."

The government pays informants and criminals get deals for snitching every day. Why would this be any different?

I always have my kid clean up his own messes after a heavy Friday evening of Nerf war and sleepover madness and he's a solid citizen. Why shouldn't adults have to do the same?

In the meantime, however, people are furious with Madoff and his elves. Taxi drivers are spitting mad that Mr. Madoff is under house arrest in his "luxury penthouse." And they're frustrated, desperate, helpless and feeling heavily victimized however confident the president sounds. In some countries I've worked in, that kind of brew is a prescription for street action.

Money man Barton Biggs was quoted in the NYTimes Sunday as warning about the possibility of "social unrest" over all this stuff. "Very substantial social unrest." That means the modern equivalent of pitchforks and torches.

But that's the thing, you see. The one in charge of everything right now is Barack Obama. And people like him. The big majority wants him to succeed. So how can they possibly riot against someone they're rooting for?

I don't know how long that line will hold, but it's an important one to hold while we see if any of this stuff actually works.

We all need each other. Last year's lockup is today's locksmith. Common denominators.

For more, read Bronstein at Large.

Follow Phil Bronstein on Twitter: www.twitter.com/PhilBronstein

Comments

[Righthandman]

HAHA! Sir you are the first decent writer Huffpost has seen!

[Chardin]

correction:

full equipped revolution , WITH pitchforks and torches...

[Republicrats]

Hey, we're all for the big O, its the congress that will get run out of town on rails!

[indy girl]

Hey everybody,
there's a poll on the front page of MSN tonight asking readers to grade Obama so far. No registration necessary.

http://www.polls.newsvine.com/_question/2009/03/10/2528064-midway-through-his-first-100-days-how-would-you-rate-barack-obama?GT1=43001

[rgblue]

The "just say no" righties have gotten a grip on this poll.
Come on, all. Stop letting them get the last word. THEY LOST. Go vote!

[Ciganka]

I think that what many of us want is to see a thorough investigation of these questionable financial activities that brought us to this point. A majority of people support President Obama and many of us are willing to go the extra mile on the situation, but if there is not justice in this, then there is probably going to be social unrest. I still believe that at some point heads will start to roll. If it really starts to look like everyone is getting a walk and keeping the ill-gotten gains, I will find that to be a problem.

[RenoSage]

We know very well what got us into this mess. What most of us want is to work our way out of it--literally.

Revenge may be sweet, but prosperity is sweeter.

[Ciganka]

Yes, but getting that money back, getting restitution from these characters would also boost prosperity. They actually looted the country and citizens.

[TessyRenberg]

'He's the CEO of the U.S. government'...Ouch. I hope you were being facetious. Isn't that the thinking that got us in this situation? Government =Corporation=Neoliberalism=taxpaying citizens pulverized=third world

[radicalcentrist44]

Where is all the inspiration and hopeandchange? How has Obama inspired you since the election? What has that inspiration and hopeandchange done? Obama said he would fix everything and all I have to do is pay an extra 3% in taxes--that was his cure. Now all I have to do is wait. He has a cabinet of tax cheats, a pork-laden spending bill that does nothing and the "job creation" will be temporary construction jobs that the unions and illegals will loot. Yes, the job stimulus will have the laid-off computer programmer holding the "slow down" sign at a construction site. Manufacturing is not coming back to this country. GM is dead (good thing Bush gave them that first loan, so now they can come back and get more money to fail again). Maybe Obama should have a "job bank" program much like the unions where you sit around, smoke cigarettes, play cards, get a paycheck and wait for a job to open up.

[ditsylilg]

such a positive attitude and so patient as well

[LinuxDude]

According to Rasmussen, Obama's approval ratings have sunk from the high 60's down into the 50's.

His disapproval ratings have risen proportionately.

Since he just rammed through megabillions in spending in a bill that no one in Congress got to actually read, and voted another $350 billion to Wall Street firms who refuse to account for it, I think it's quite accurate to assign the blame to him.

Why exactly did we give more billions to AIG? Who voted for this? Did *you* think this was a good idea?

It's Obama's fault now, it's his bear market and it's his responsibility.

Democrats can no longer duck the blame.

[truthmachine]

As noted in the HuffPost yesterday, to claim it's Obama's bear market is to commit fraud.

[FlyingEagel]

It took us years to get to this point. Everyone agrees on that. Now people like you want to blame Obama after only 6 weeks. Incredible. Bush and Conservative policies are a complete failure. Obama is trying something new. Let's wait to see how things go. The failure for this mess is Bush's alone.

[dirtystrat]

Actually the Democrats have been in control of the house and senate since 2006. Seems to me we had a low unemployment rate back then and the market was heading to record highs. That's about the time when Obama hit the campaign trail to tell us how terrible everything was. Coincidence??? When you spend two years telling people the sky is falling eventually it sinks in. That's where we are today. Add a dose of Barney Frank, mix in a little mortgage fraud and this is what you get.

[hawkseye]

Media mavens are making asses of themselves with their constant braying about Obama not having solved economic problems after 7 weeks in office.

[Nonpartay]

Ain't THAT the truth!

[sc300nc]

This is what you get when the uneducated and uninformed stream to the polls to support a cult hero...doesn't matter that he has no experience, doesn't matter that his political leanings are left of left field, doesn't matter that he was ineffectual as an Illinois Senator. The man does read a good teleprompter and the election of the first black president was historical. That's what got us here. He's had two months of OJT, still green behind the ears. I have doubts whether he can pull this off but I do respect him just as I have all of the other Presidents. He has to earn my trust, and he's got a long way to go on that.

[truthmachine]

Rush told you to undermine Obama, to make him fail; I see you're hard at it.

[patrickgarret]

And what was it when YOU "streamed to the polls" to support Bush?

[RenoSage]

I think you would find that the people who voted for Obama were more informed about the issues
than their southern counterparts.

[idest]

You think MCCAIN would be doing a better job right now? Seriously??? The man who said the fundamentals of the economy were strong as the economy was going down BUSH's toilet??? Forget drinking the Kool Aid, you're injecting it directly into your veins. Yikes!

[mountainweb]

Face it, he is not holding anything at bay, the media who still worships him as their messiah is refusing to admit that he does not hold all the answers. The Stimulus package is doing nothing to create real jobs, build business, reduce PORK is a massive bill or create stability in the economy and the media NEVER notes that he is failing to come thru on his promises.

The democratic party is fighting him, note that you see no mention of this in the news as a PROBLEM. Time for the media to call the democratic party to task on this issue.

He will struggle as long as Nancy fights him and he continues his swing to socialism instead of facing the issues created in large part to past democratic financial policies like pushing banks to loan to anyone with a warm breath....

[slg]

"the media worships him". As if.

Truth is, the entire right wing movement would rather see the Country crash into the burning pits of he!! than see it succeed under a Democratic agenda.

This "socialist" label is always brought out when the fascists start losing their grip.

What part of "We, the People..." do you not understand?

[Nonpartay]

If the media worshiped him, we wouldn't see this endless parade of talking head Republicans whining about his job performance, his policies, his plans. I got so sick of it, I haven't even turned on the TV yet today. It feels REALLY GOOD! :)

[CompashCat]

Sooo... you honestly believe:
1. The media is "in bed" with Obama, and not willing or able to give scrutiny to his policies? That is complete bull
2. This economic crisis is because the democrats pushed banks to loan to unqualified buyers? Do you realize the Republicans have CONTROLLED congress from 1994 to 2007? Did all this financial mess just happen since the Democrats took control in 2007? Don't you think this is a pretty big stretch of logic?
3. The Democratic party is fighting Obama? Over what? Trying to get this incredibly broken country back on track?

Let me ask you: with congress in Republican hands from 1993 to 2006 and with President Bush in office for the past 8 years, what have Repubs done for this country besides deficit Pentagon spending? What have they done to protect the rights of workers, improve education, make health care affordable and accessible to everyone, wean us off foreign oil, improve our aging interstate system, or even control irresponsible trading on Wall Street? What the hell have they been doing for the past 13+ years, and why on earth should we trust them?

Stop watching Fox News -- it is the propaganda wing of the Republican party and there is little truth to anything they say.

[Sundialsvc4]

As for me, I don't "think he's the messiah." What he is, is a superlative executive who, along with his Vice-President, is carrying out an extremely important task with extraordinary high stakes and under very negative conditions.

It is absolutely part-and-parcel of the job description that "you will not be popular," "you will be both worshiped and damned in the same breath," and while "the buck stops here" you have no law-making authority at all. Honestly, I think we should be rather grateful that anyone was willing to do it at all. We're not under any obligation to agree with him ... quite the opposite ... but by jove, I think that Messrs. Obama and Biden well-deserve our respect.

[jeanruss]

I voted for Obama but have joined the ranks of the disillusioned. His Sec of Agriculture, Vilsack is trying to rush through HR 875 that will make organic farming illegal. Vilsack is a shill for Monsanto and huge agribusiness interests. On youtube under "criminalizing organic farming" you can see what this terrible bill will do to our health and freedom. Obama is a trojan horse for corporatist interests. We are in big trouble. I can only imagine what some of his other appointments are up to.

[Pyrrhus]

just what exactly is a "real" job? My State is getting 269,000 jobs this year alone thanks to the stimulus, and they won't exactly be working for wally world.

Now I doubt that any of those stimulus jobs would be in investment banking or other such sleaze, but don't you think the reason why we're in this mess is because of those people?

[candyc]

What the Democrats and the Repugs do not fully understand is that the people LOVE the Obamas...not them. All of these politicans are at risk in the next election. But I really think that the ones that are seen as obstructing our President, adding pork to bills, and pontificating their bad ideas on TV
will be private citizens after the next election.

[jazzage]

I get tired of people giving him slack because he's been in office less than to months. As soon as he surrounded himself with Wall St insiders for his economic team it should have been obvious that he is beholden to the banksters just like Bush. Obama has made it clear he doesn't believe in punishing the guilty, which means the bankers and politicians responsible for this meltdown will go free and get to keep their money. But his generosity doesn't extend down to the plebes - if any of us little people commit a crime we will be arrested and go to jail, if the cops don't accidentally shoot us first. The only way Obama can redeem himself in my eyes is if he stops the bailouts, arrests the bankers for fraud. But he won't, so there will be violence, and it will destroy us. Revolutions are wonderful things, and they always start out with killing those who need to be killed, but then they devolve into chaos and anarchy and eventually a dictator who is as bad if not worse than what they had. Still, it is only during revolutions that the slaves stand on their feet and resist the masters.

[LeonBNJ]

During the Great Depression, there was the 'bonus riot' (vets of WWI wanting their bonus to be paid in the 1940's paid well before that date), but that was more about when the military was called in to remove protesters from Washington DC. Beyond that, there were few if any civil disorders in that time. As then, all but a few Americans realize the economic crises took years to be developed, will take years to deal with, realize they don't have the information or skill to even figure out how to deal with it and as then, the President took some actions to show concern and calm leadership. Still, President Obama could take stronger actions, perhaps via Presidential Orders, in areas to force change like as to current and past compensation of executives, order proscution of executives who made the decisions that led to this crises as well as get more money to people rather than filtered via the banks.

[RenoSage]

My, now we have pushed the Great Depression into post WWII. Amazing how time flies.

[idest]

Wha??? Bonus Army marched on Washington in the spring and summer of 1932. It was comprised of World War ONE veterans who didn't want to wait until the 1940s for their bonuses, hence the name "Bonus Army". Report to history 101, junior.

[romangod]

Our fine education system in action again. Does ANYONE understand the congress makes the laws. The congress spends the money. The president can suggest legislation but it falls to congress to pass or rebuke it. The good times of the Bush admin where NOT because of him and the bad times now are not because of Obamma.