The President has seen "glimmers of hope." I'm trying to figure out where.
Maybe it has something to do with Wells-Fargo's record quarterly profits, or the determination of Goldman-Sachs to repay its TARP funds. Financial stocks seem to be staging a bit of a recovery, which is not especially surprising with the FDIC guaranteeing billions upon billions of dollars of the loans they are making -- essentially taking on all the risk in exchange for a negligible fee.
Goldman-Sachs posted a profit -- made possible, as it happens, by payment at 100% of face value on a credit default swap issued by AIG. Does a profit really count if it depends on free money provided by the taxpayers? Yes, apparently, it does count. If you can get the suckers to hand over their money, it's yours, right?
The only "glimmer of hope" I could believe in right now would be an effort to remove from government anybody and everybody with a history at Goldman-Sachs. Two administrations' worth of Goldmanistas already have eliminated virtually all of the company's competition. Isn't that enough?