Treasury Secretary Timothy Geithner was interviewed by James Bennet at The Atlantic’s Washington Ideas Forum, and said “it’s inexplicable” why bankers who once backed Obama in 2008 to now are doing everything in their power to undermine his presidency.”Some people resent needing help,” he said, noting that the regulation the Obama administration is advocating is in direct response to the failings in the banking system that almost collapsed it in 2008.
One of the reasons might be the Obama administration’s critical tone toward banks — calling them “fat cat bankers” in 2009, and now criticising Bank of America’s decision to impose a $5 fee on checking accounts.
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