Barrel Strength

Wall St.

During the campaign, Obama was never shy about his promise to undo the Bush tax policies. But it was easy to ignore his occasional lapses into populist rhetoric and focus on his intense intelligence and Ivy League education. Now, in the wake of the crisis, Wall Street’s politics are shifting rightward. “All the rich people I know took George Bush for granted,” says an analyst at a midtown hedge fund. “I’m a Democrat, but I agree with Rush Limbaugh on a lot of this stuff,” rails the wife of a former AIG executive.

Main St.

As a senator, Barack Obama led the charge last year to pass a bill allowing black farmers to seek new discrimination claims against the Agriculture Department. Now he is president, and his administration so far is acting like it wants the potentially budget-busting lawsuits to go away.

The change isn’t sitting well with black farmers who thought they’d get a friendlier reception from Obama after years of resistance from President George W. Bush.

“You can’t blame it on the Bush administration anymore,” said John Boyd, head of the National Black Farmers Association, which has organized the lawsuits. “I can’t figure out for the life of me why the president wouldn’t want to implement a bill that he fought for as a U.S. senator.”

As your correspondent noted in July 2008 during the election campaign, this was a case of mass hysteria akin to the Diana funeral in UK and all logic was suspended.  One can empathize with the black farmers, as they voted along racial lines, along with the rest of the black people, but what can one say about the supposedly supremely rational Masters of the Universe on Wall St.  Perhaps it could be worse because they could have been fooled by other means.