Josh Marshall lays it all out beautifully.
AIG’s Liddy, as spokesman for the entire financial industry, has told Mr. Obama (and by extension, all the rest of us), “Shut up, bitch(es), and give us our money. And don’t be slow or we’ll fuck you up the ass like nobody’s business.”
On Mr. Obama’s staff, messers Geitner, Summers, Axelrod et al have responded by saying, “They’re right, Mr. Obama, they are going to fuck you up the ass. Although you are president of the United States of America, you are powerless to stop them. All you can do is give them more and more and more money. But we can advise you on the best way to self-administer K-Y jelly.”
Josh Marshall’s exposition is not so crude as my own summary of it, and I encourage you to go read it.
This will probably be the big test in Obama’s presidency, in the sense that if he fails it, he’ll have so far alienated his core constituency that any subsequent policy initiatives may be moot. People just won’t care or trust him. And so far, from me, at least, he’s getting a great big fat “F”.