By Karey Wutkowski
WASHINGTON, Jan 20 (Reuters) – The Obama administration’s Wall Street bashing fell flat among voters in Massachusetts, but that doesn’t mean Democrats have ended their anti-bank rhetoric.
Major U.S. banks, which returned to sizable profits and lavish bonuses just months after taxpayers bailed out the financial system, represent a convenient target for politicians to score points with voters.
“It is too easy and ripe and necessary a target for the Obama White House because they’ve been labeled as protecting the banks … during the whole first year of their administration,” said Ethan Siegal, an analyst with the Washington Exchange, a private firms that tracks Congress and the White House for institutional investors.
In the past week, however, criticizing Wall Street fat cats has not translated into wins for Obama.
Massachusetts voters stripped the Democratic party of a crucial Senate seat on Tuesday, handing a surprise victory to Republican Scott Brown, a candidate Obama had painted as a friend of the banks.