It is foolish to think Obama was cowed by republican obstructionism, especially those first months of '09. He simply sidestepped real reform on Wall Street by choosing Tim Geithner, of all people, to run the bailouts and keeping Bernanke for another term. They did everything they could to foam the runways for the banks during the crisis.
It would have been hugely popular had he taken on the big banks. It was fully in his power to do it - laws were in place and ample precedent for such action. And in my opinion, it would have deflated the teabaggers and prevented the republicans from retaking of the House in 2010.
Like I said, it's a shame he wasn't as good as he could have been.
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