I guess it really doesn’t matter that 88% of Americans think Wall Street bonuses should be either heavily taxed or banned in full, unless you are trying to figure out a way for the big banks to be upstanding members of American society. This does seem to be a great opportunity for the President, though. Rather than respond to idiotic concerns that he isn’t nice enough to them at a time when the stock market and bank profits have exploded, there should be recognition by the banksters that they are hated by the American people and President Obama is standing between them and a very angry public. In an ideal world, this political dynamic should enable the President and Democrats in Congress to extract concessions from Wall Street that will enable greater economic growth.
The biggest question I have is why aren’t politicians on either side of the aisle trying to speak to this 88% of America? I would hazard that the person who can best capture this anger politically will be well poised to turn it into political power and use it for improved economic policy-making.