The White House, in its tireless effort to portray itself as the scourge of Wall Street lobbyists (contrary to all evidence), put out a list of the “10 Most Wanted Lobbyist Loopholes,” and vowed to battle them. He didn’t include some other top priorities of Wall Street lobbyists, such as:
- Keep the Fed’s lending transparent, as much as possible
- Preserve those taxpayer-funded slush funds, Fannie and Freddie
- Don’t break up the big banks
Obama sides with Wall Street’s lobbyists here — and both Obama and Wall Street are wrong here. Don’t expect the media to pick up on this convergence of White House priorities and Wall Street priorities — the Obama-vs-the Banks narrative is too easy.