President Obama has called people who work on Wall Street “fat-cat bankers,” and his reelection campaign has sought to harness public frustration with Wall Street, according to the Washington Post report. Financial executives retort that the president’s pursuit of financial regulations is punitive and that new rules may be “holding us back.”
But both sides face an inconvenient fact: During Obama’s tenure, Wall Street has roared back, even as the broader economy has struggled. The movement, which started Sept. 17 with a few dozen demonstrators who tried to pitch tents in front of the New York Stock Exchange, has spread to cities around the world.
The largest banks are larger than they were when Obama took office and are nearing the level of profits they were making before the depths of the financial crisis in 2008, according to government data....
Read more at http://www.washingtonpost.com/business/economy/wall-streets-resurgent-prosperity-frustrates-its-claims-and-obamas/2011/10/25/gIQAKPIosM_story.html?hpid=z1
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