If Obama takes action and breaks down the to-big-to-fail banks I would say it is a sharp turn to the left in economic policy. A vote for PES is a vote for EPP! A vote for EPP is a vote for PES! Support the coalition, vote EPP-PES in 2009!
Year 2 was always going to be for more populist issues like regulating banks aqnd a "Jobs bill" because Obama has to recover popularity in the run up to the Mid-terms.
The question now is whether Obama will have any substantial victories to celebrate after year one - with the Stimulus only partial;ly successful, health care in a mess, Guantanamo not closed, and Afghanistan going nowhere despite an unpopular escalation.
Obama is still in the driving seat as far as initiating measures is concerned, although he has been curiously unwilling to take the lead - preferring an unpopular congress to make the running.
I wouldn't underestimate his ability to change tack and take popular initiatives. The question is now how much he can actually achieve with a spineless congress and a resurgent GOP. notes from no w here
