President Obama is now trying to tap into the anger of “Occupy Wall Street” and capitalize on it for political gain. It was inevitable that some politician would try to make hay with it.
Given that Obama has basically done Wall Street’s bidding since coming to office, many will rightly point out that it’s a little disingenuous of him. However, here are some things that Obama could do to make a lot of Middle Class Americans feel like he’s actually working for their interests and not the mega-banks:
1. Reinstate Glass-Steagall. America went off track when Robert Rubin, Larry Summers, and Alan Greenspan convinced President Clinton to let investment banks and commercial banks live under one roof. That was wrong. Bring it back and separate them again.
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