Is Obama battling "Wall Street lobbyists"? Hardly, as I point out in my column:
Amid President Obama's saber rattling at Wall Street's "army of lobbyists," and his lieutenants' vilification of these hired guns, it's easy to forget that the administration is talking about actual people, who have faces, and names -- names like Gephardt, Breaux and Podesta.
Similarly to his imaginary war against health care "special interests" last year, the president portrays his push for financial regulation as a battle against intransigent Wall Street lobbyists. And as with health care "reform," we can expect that any financial "reform" to pass both chambers will have the stamp of approval of the industry's biggest players -- in part because the big guys' lobbyists are the president's friends, donors and former employees.