Barack Obama gets tough with “fat cat bankers”

Barack Obama met with 12 “fat cat bankers,” who he largely blames for the recession. After criticizing them for risky behavior which contributed to the nation’s economic problems, he said,

“And so I urged these institutions here today to go back and take a third and fourth look about how they are operating when it comes to small business and medium-sized business lending,”

Unfortunately, this might not be possible. Due to the problems of the past two years, regulators have been keeping a closer eye on banks. Even if banks were able to safely lend substantially more, is it wise? Is taking a “third or fourth look” at a business that was too weak to make it by earlier screenings worth a shot in this precarious economy? Wouldn’t a large number of these loans put the banks stability in question?

Of course, Barack Obama probably doesn’t care much about the details. He wants to be seen criticizing the big bad banks, and wants the economy to pick up at any cost, even if what is built is no stronger than a house of cards.