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Triangulation Requires Blame

I mentioned below that Obama is setting the stage for his jobs speech by lowering expectations and burying substantive analysis. I forgot to mention the third leg of his preparation: blaming others.

Obama is launching a series of lawsuits against big banks for their role in causing the recession. Whether these banks misrepresented the quality of bundled mortgage securities is a fair question, but Obama's purpose is certainly to frame a scapegoat toward which he can attempt to deflect criticism. Watch for it in his speech. It's not his unprecedented spending, lack of economic proficiency or anti-business regulations which are to blame for the continuing recession - it's the fault of the big, bad banks. (See if he is also able to subtly and indirectly blame the whole thing on Bush.)

Obama has set the stage for a truly meritless campaign speech.

Categories > Economy

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