But what happens to a political party when they've spent the better part of a year trying to maybe kind of rein in the parties responsible for causing the global financial crisis? Plus maybe telling insurance companies that they shouldn't be such complete money grubbing shits and attempting to hold an oil company responsible for a massive environmental catastrophe? Sure, all of these attempts were half-assed, concession filled, compromise riddled, and willing bent over and inserted loopholes for the very industries they were attempting to regulate, but Democrats had the audacity to maybe question their corporate masters.
How did this go over with their moneyed betters? Not well, according to the Washington Post. With the Democratic campaign committees flagging behind their GOP brethren in the "raising money from the Monopoly guy's buddies" category.
Now normally, this would be time for Democrats to asses the situation, see how they're being openly criticized by unpopular industries and business leaders, see how close said unpopular business are to the GOP, and decide to make a stand on "standing up for the little guy against the evil excesses of the business world" no matter how dishonest that statement is. But no, this is Washington 2010 and these are Democrats.
In a Thursday interview, White House chief of staff Rahm Emanuel argued that rather than recoiling against Obama, business leaders should be grateful for his support on at least a half-dozen counts...That's how you lick some boot. Why position yourself as some sort of champion of the people, fighting against the excesses of big business... of which there a a litany of examples with massively negative consequences? That actually might be popular and helpful. Good thing you didn't do that then, Rahm.
But, in the White House view, some business leaders listen only to Obama speeches being tough on BP or on the excesses of Wall Street and assume Obama is hostile to business across the board. “Rather than respond to atmospherics, they should look at policies where we have been supportive,” Emanuel said.
Obama administration officials also are quick to point out that Corporate America hasn’t done so badly under Obama -- according to the most recent data, corporate profits are up 34 percent from first quarter 2009 to first quarter 2010.
It explains so much.