Wall Street carrying water for Obama again

Charles Gasparino:

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Even though many of the banks have gone back to making sizable profits, unemployment remains sky high, housing prices severely depressed and economic growth chronically anemic.
With that in mind, it's hard to take seriously just about any thing uttered by Blankfein & Co. -- particularly yesterday's noise.

Bad enough that these guys are preaching responsibility -- but that's not the end of the hypocrisy in their much-hyped letter. Remember: Blankfein & Co. are a big reason why we need to have debt-limit debate in the first place. These same CEOs were some of the biggest contributors to the 2008 Obama campaign -- and the president these donors helped elect then gave us Uncle Sam's largest-ever peacetime spending spree.

Add chutzpah to the hypocrisy: In demanding that any budget deal get done this week, these guys say nothing about spending or the $14 trillion of debt the American people owe to support the modern welfare state.

Sure, it's reasonable to worry about a default on our debt and the financial implosion it will undoubtedly cause. But they fall silent on a key point: The two guys who've been threatening default since this drama began -- President Obama and Geithner -- have the ultimate power to prevent one.

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These guys would have more credibility if they were not trying to get Obama reelected. That is reason enough not to take them too seriously. They should be pushing the President to accept the deal Boehner offered him before Obama tried to move the goal post on revenue.

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