I think everyone wanted to believe in Obama and they were finding reasons. I'm not sure why they did given how much support he received from the banking industry. The reason he won was because the bankers preferred him over McCain and gave him dump trucks full of money. It's easy to see why so far. Basically we've had to give the bankers foot massages because a slap on the wrist would have been too mean for their tender hearts to handle. I'm not arguing McCain would have been much better but on this kind of nonsense he definitely would have been better.

And of course Obama doesn't know anything about the market and certainly does not believe in the free market to do anything. His latest jobs program should make that painfully obvious to anyone paying attention. The notion of the technocrat appeals to people who are smart and like solving problems. They feel like any problem can be solved with a good enough team and a smart leader (as an aside why does anyone believe Obama to be anything but an average intellect). That is as FA Hayek put it a fatal conceit but it's easy to see why people fall into it. I said the same thing about Mark Cuban's comical jobs program: top down thinking is toxic to your brain.