Remember that Obama got 3 to 4 times as much money from Wall Street (depending on the bank) as McCain. In turn Obama did not break up the megabanks and in fact locked in their “too-big-to-fail” status with the ridiculous Dodd-Frank bill which does nothing but increase revenue opportunities for lobbyists and lawyers (a group which gave an even higher proportion of their contributions to Obama than Wall Street!). Wall Street has grown ever wealthier and more powerful under Obama, so they will tolerate a little bogus populist campaign rhetoric from their friend in the White House in exchange for real financial favoritism.

The solution here as in so many other areas is to return to the Constitution by following the original meaning of the Constitution’s interstate commercee clause, which would bar all federal regulation of local businesses and leave that to the states. An across-the-board exemption from Dodd-Frank for all small and local banks would allow those financial institutions which are so vital to the Heartland to thrive free from Dodd-Frank’s massive compliance burdens while leaving the megabanks stuck in the regulatory web they wove in connivance with Dodd, Frank and their other Democrat buddies.

In addition, such an approach could serve a valuable educational fucntion in pointing out the fundamental unconstitutionality of the federal regulatory state. This could open the path for more broad-based exemptions for small businesses from federal regulation, and eventually even a constitutional amendment restoring the original meaning of the interstate commerce clause and constitutional limits on federal power. See http://www.timelyrenewed.com