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Suddenly, they are all focusing on it.

The Daily News is back to the cheerleader position, trying to make the most of the good Wall Street day yesterday

.pointing out that it was “Bam’s plan” that did it (someone at Daily News needs to read WSJ)

Newsday is as usual closer to reality, sticking with the AIG bonuses

and surprisingly New York Post joins in

At the other end of the spectrum than the Daily News, AM NY cancels the optimist by pointing out some bizarre signs of the times



Great commentary on the “hooray, Wall street approves”

“.Our press corps has discovered an important scoop: Rich people approve of using taxpayer money to help rich people.

In case you haven’t noticed, there’s a common thread throughout all of this coverage, which is that Geithner’s plan cannot be successful unless it wins the enthusiastic endorsement of the very rich people who drove the broader economy into the ground in the first place..

This too

rom the front page of this morning’s conservative Daily Mail newspaper comes a measure of where Geithner’s misguided economic might lead:

“Millions face ‘worst of both worlds’ as cost of living rises but rate for fixing pay and pensions falls to zero.”

Credit for the cartoon

Only yesterday (see update) I was mentioning Rasmussen’s +4 indicator (down from +30). Today, Zogby comes with the new numbers which tell us

Americans split on the president’s performance. He said the score factors out to “about 50-50.”

According to Boston Herald, Zogby attributes this to

“It’s not because of the gaffes, but a combination of high expectations and that things aren’t moving fast enough with the economy.”

To which they add the disastruous media appearances, where the teleprompter was left behind and the “gallows humor” brought along.

Here’s my theory.

Zogby is of course  right – the lack of economic change is a good part of the reason.

Some of the 50% who now disapprove may also know the definition of insanity – doing the same thing and expecting different results. A few of us noticed Obama is repeating the Bush mistakes that led to this crisis (crony capitalism – WSJ congratulates Obama for it today)

As for what Boston Herald calls

” president’s love of the limelight”

there’s nothing new here. let’s face it, Obama was never more modest, less overexposed during the campaign.

As I noted before, the media is just stopping the propping of the same “rock star” they created, so we get to see the punch drunk, Special Olympics snark that before was carefully hidden under “historical” and “you’re racist if you say it”

The gaffes were flowing before as well (57 states, bitter clingers etc). Now they are allowed on TV. Because the election doesn’t need manipulating at this point. As B0bot Taibbi finally writes

“They cemented and formalized a political trend that has been snowballing for decades: the gradual takeover of the government by a small class of connected insiders, who used money to control elections, buy influence and systematically weaken financial regulations.”

Once installed, the emperor is left naked

Bear Naked

Not Your Sweetie

March 2009