06/02/2010 05:12 am ET Updated May 25, 2011

Obama Should Channel Roosevelt To Battle Wall Street

In the spring of 2009, Obama and his senior advisers did not seem terribly troubled by the dangerous concentration of power, wealth and hubris on Wall Street. The president thought it reasonable to find a way forward through amicable accommodation, assuming that Big Finance really could change. Yet, in memoirs and public statements, the bankers repeatedly submit their defense: The system -- the mechanics and incentives of Wall Street -- made them do it. Unfortunately, Wall Street and its intimate connections to Washington have not become any safer for the American economy since this crisis began.

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