During the 2008 presidential campaign, then Sen. Barack Obama raked big banks and Wall Street over the coals, stirring protests against the rich throughout the nation. Fast forward six years and it appears the administration has become more than a bit cozy with the top one percent.
“It was kabuki from Day 1,” says Joel Kotkin, editor in chief of New Geography. “Particularly in 2008, had the vast majority of support on Wall Street, The New York Times dubbed him the “hedge fund candidate” and he had very good relations with the big-money people in Chicago. So there’s always been this sort of kabuki. He does that one thing that’s sort of rhetorical and then he does the real thing.”
Listen in as Kotkin continues his discussion of Obama’s love-hate relationship with Wall Street in this edition of “InstaVision,” with Glenn Reynolds, on PJTV.ARVE Error: need id and provider