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Geithner Nails It


He’s reportedly worried that politics is driving Obama’s attack on Wall Street. Of course it is. The danger of the “pivot” for Obama is that he’s not naturally an angry populist and the political motive behind this move will seem obvious to people. I’m guessing he’s much better suited to posing as the cool, calculating moderate, as he did during the campaign to great effect (witness all the testaments to his temperament), than an impassioned 21st-century Huey Long. He’s clearly gotten pushed into by the Left and by the need to respond to the popular backlash against his governance. A politician always needs to adjust to circumstances, but he can’t seem to be adopting a different persona (see Al Gore’s performances in the 2000 debates). We’ll see: People certainly don’t like Wall Street, but they might well pick up the whiff of poll-driven desperation and realize Wall-Street bashing won’t do anything to improve their lives.


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