Legal Commentary

Obama Tough On Detroit, Easy On Wall Street, Part 2

By Big Tent Democrat

President Obama's statement on auto industry bailouts:

What we are asking [from the auto industry] is difficult. It will require hard choices by companies. It will require unions and workers who have already made painful concessions to make even more. It will require creditors to recognize that they cannot hold out for the prospect of endless government bailouts. Only then can we ask American taxpayers who have already put up so much of their hard-earned money to once more invest in a revitalized auto industry. . . .

(Emphasis supplied.) I missed President Obama's speech demanding "painful concessions" from Wall Street. I missed President Obama's condition for Wall Street bailouts that "creditors [must] recognize that they cannot hold out for the prospect of endless government bailouts." Why is President Obama being so easy on Wall Street?

Speaking for me only

Full post as published by TalkLeft on March 30, 2009 (boomark / email).