Obama is calling on banks to call off their lobbyists:
President Obama got tough on financial services chiefs in a meeting Monday and said he now expects those executives to tell their lobbyists and trade associations that they support financial services reform.
That’s funny, I seem to recall some amendment somewhere in the constitution mentioning something about a right “to petition the Government for a redress of grievances.” Maybe that doesn’t appear in Obama’s copy.
Then again, take the King’ shilling… and I seem to recall the financial services community donating heavily in favor of Obama, so maybe I shouldn’t really feel sorry for them. This is what you voted for, suckers.
Being a constitutional law professor and all, his zeroness doesn’t need to be bothered by conventional concepts of the Constitution of the United States of America.
The banks have been treated quite well so far and any regulation will be about as effective as it has been so far which is to say – ineffective.