Wall Street Fights Back

The corporate elite on Wall Street are trying to fight back against the populist backlash to corporate greed and excessive corporate bonuses.

Wall Street Journal: On Wall Street, Talk of Trust and Civil War

Obama has been carefully trying to respond to the public's anti-corporate outrage while not offending the corporate elites. In fact, the Obama administration seems to be more afraid of a backlash from Wall Street and corporate America than they are of the populist uprising. Even in his second prime-time press conference tonight, Obama tried to express some anger at the AIG bonus scandals, while defending business and the "good" corporate rich. Treasury Sec. Timothy Geithner has been meeting and talking with his friends on Wall Street trying to win their support for his bank bailout plan. In order to win their support, Obama is softening his tone toward them.

Wall Street: Obama Dials Down Wall Street Criticism

Maybe the corporate rich on Wall Street, and the Obama administration, should read Matt Taibbi's excellent article in the Rolling Stone explaning why Americans SHOULD be angry at Wall Street: The Big Takeover

Here's a peek:
"It's over — we're officially, royally fucked. no empire can survive being rendered a permanent laughingstock, which is what happened as of a few weeks ago, when the buffoons who have been running things in this country finally went one step too far..."