Horner's Corner

The Discomfort of the Establishment

by on Apr.28, 2009, under politics

Long Sunday: The Discomfort of the Establishment

wall-street

Long Sunday lives! Here is an excerpt from a recent post by Alain Wittman:Long Sunday: The Discomfort of the Establishment.

I believe there may be a clue in an unusual comment Obama made back in March, during a town hall meeting in California. He was discussing why the Federal government had to step in to save the larger banks, and said something that sounds like black mail:

“When you’ve got big big banks — Citicorp or Bank of America or Wells Fargo — that control 70% of the banking system and all of them are weakening, you can’t afford to have all those banks going under, even though the deposits might be guaranteed. We had to step in, it was the right thing to do, even though it’s infuriating. …”

“Same thing with AIG,” Obama said. “It was the right thing to do to step in. Like they’ve got a bomb strapped to them and they’ve got their hand on the trigger, you don’t want them to blow up, but you’ve got to ease them off the trigger.”

I actually watched this surreal moment on the news. As he was using the suicide bomber image, the president held out his arm and simulated a hand on a trigger. What could the President mean by such an image? It was used in the context of a response to a question from the audience – so perhaps it doesn’t mean all the much.

Or, President Obama, in an unusual moment of candor, just told the American people that their financial system is being held hostage by a small group of suicidal/homocidal maniacs.

I cite: Long Sunday: The Discomfort of the Establishment.

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