Via John Aravosis, Democratic uber-strategist James Carville thinks President Obama should start panicking, fire lots of advisers, make a consistently strong case “like a Democrat,” and, most importantly in my book, start prosecuting Wall Street crooks. Carville writes:
Indict people. There are certain people in American finance who haven’t been held responsible for utterly ruining the economic fabric of our country. Demand from the attorney general a clear status of the state of investigation concerning these extraordinary injustices imposed upon the American people. I know Attorney General Eric Holder is a close friend of yours, but if his explanations aren’t good, fire him too. Demand answers to why no one has been indicted.
Mr. President, people are livid. Tell people that you, too, are angry and sickened by the irresponsible actions on Wall Street that caused so much suffering. Do not accept excuses. Demand action now.
I think this is exactly right. Holding Wall Street accountable would be a dramatic sign to the public that the President is on their side and, importantly from an electoral standpoint, on their side in a way the Republicans are not. Of course the continued choice to not prosecute banksters is very clear in its meaning as well.