David Stockman on Crony Capitalism

President Obama may call them "fat cats" and stir the rabble against them with populist rhetoric when it serves his purpose, but after the fiscal fiasco, he allowed the culprits to escape virtually scot-free. And when he’s in New York, he dines with them frequently and eagerly accepts their big contributions.

Like his predecessors, Obama’s administration has also provided the banks with billions of low-cost dollars they used for high-yielding investments to make big profits.

It's a fact. The largest banks are actually bigger than they were when he took office. And earned more in the first two-and-a-half years of his term than they did during the entire eight years of the Bush administration.