President Obama has posed as the scourge of Wall Street, and much of the media has fallen for it. Sen. Sherrod Brown, an actual foe of government favors for big banks, hasn’t been fooled. Brian Beutler at TPM reports:
“It’s clear there’s too much Wall Street in this administration,” [Brown] told me during a Thursday interview in his Capitol Hill office.
Obama’s Treasury department is just as unfriendly to the idea of breaking up big banks, or limiting their destructive potential, under Jack Lew as it was under Timothy Geithner, Brown said.
He was particularly unhappy with a recent speech in which Treasury undersecretary for domestic finance Mary Miller argued that the Dodd-Frank Wall Street reform bill already addressed the Too Big To Fail problem.