I Wonder How Much Mr. Obama Took From Working American's 401(K)s when he berated Goldman and Trashed Wall Street?

Punitive political populist pronouncements may be politically popular but they aren't good policy. 

I am no fan of Goldman Sachs or the excesses of risk Wall Street predictably brought on, and I think that imposing and modernizing financial reform and regulation is necessary, but this bank bashing has gotten out of hand and has cost the American worker, the American Economy and the World Economy, billions.  It is another example of the political democratic mantra that rich is bad and that’s all that matters.  It matters not that the rich pay much of the taxes that support the programs that benefit others.  It matters not that dumping on the rich hurts us all.  Trashing Wall Street is the political sport du jour. It’s fun and it’s easy and many of their attitudes and actions are indefensible (and frankly stupid), but you had better watch out, because losing billions for sport is also stupid and hurtful to the very people the populist promises and punitive policies are supposed to protect.

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