Why Barack Obama wasn't that tough on Wall Street. - By John Dickerson - Slate Magazine: "
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Gently, Gently
Why Barack Obama wasn't that tough on Wall Street.
By John Dickerson
Posted Thursday, April 22, 2010, at 7:32 PM ET
President Obama gave his big speech about financial reform in New York City today. If he had wanted to be as dramatic as he was in his State of the Union address in January, when he called out the Supreme Court justices for their ruling allowing more corporate money in campaigns, he had opportunity. Lloyd Blankfein, the CEO of Goldman Sachs, was in the audience. Goldman has spent $1.15 million on lobbying in first quarter of 2010, compared with $670,000 in the first quarter of 2009. Imagine if the president had turned to Blankfein and said, 'Lloyd, knock it off.' Sure, Blankfein leads a firm whose employees have given a lot to Obama and Democratic politicians. But that would only have added to the drama.
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