Is Obama Responsible for Wall Street's Meltdown? Of Course Not.

Robert Reich has a good post Is Obama Responsible for Wall Street's Meltdown? Where Populist Rage is Heading. He lists several right-wing sources saying so (WSJ editorial page, Fox News, Lou Dobbs, CNBC) and then calls the argument absurd. Read the post, it's worth it. He ends with...

"The Wall Street and Republican media attack machine doesn't know exactly what to make of this. The Wall Street Journal's editorial page, along with CNBC, alternates between attacking Obama for bailing out Wall Street and excusing Wall Street's excesses. But then again, Obama doesn't seem to know exactly what to make of it either. He seems to vacillate as well -- one moment scorning Wall Street, the next moment justifying further bailouts. I do hope he takes a firmer hand, drawing a clearer distinction and making a clearer connection between clearing up these financial balance sheets and helping average people. Otherwise, the next populist uprising will be born in this moneyed quagmire. It is here -- within the muck that was created by AIG, Citigroup, Fannie and Freddie, other giant financial institutions, now in combination with the U.S. Treasury and Fed -- that the public is most confused, bears its most serious scars, and is potentially most burdened in future years, by decisions still made in secret."