There needs to be one person in the room smart enough to ask the right question at the right time. It appears Obama and his administration are lacking that essential wisdom. As the president was slinging accusations towards the financial sector, he won the battle by convincing mainstream Americans that the banking industry was solely to blame for the financial crisis. But he may have lost the war.

The question that should have been asked -- do we need a cooperative, healthy financial sector to sustain this economic recovery? -- was never asked. Now, it's the banks who are getting the last laugh and the Democratic Party is about to pay the price. Housing weakness is going to take the Democrats out of office. Obama thought that he didn't need the bankers; he thought that the...
TAGGED: Barack Obama, Wall Street, Banks, Jason Schwarz