Obama Goes on a Wall Street Charm Offensive: Will Wall Street Turn the Cold Shoulder?

Now when the Treasury needs their money to restart credit markets and help bank balance sheets he dials back the rhetoric.

But weeks of searing criticism by politicians and the public had left bankers leery of working with the government. After brainstorming about what to do about that problem, the White House resolved to try to take control of the debate, according to several administration officials. In weekend television appearances, President Barack Obama and other administration officials tempered their criticisms of the financial sector.

Too bad bankers seem to be nonplussed now that Obama needs them again.

Some bankers say they turned the conversations into complaints about the antibonus crusade consuming Capitol Hill. Some have begun "slow-walking" the information previously sought by Treasury for stress-testing financial institutions, three bankers say, and considered seeking capital from hedge funds and private-equity funds so they could return federal bailout money, thereby escaping federal restrictions.

In other words some banks would rather borrow money from other funds in order to get rid of the TARP money on their books. Talk about counter-productive. Maybe Obama is finally understanding what is good for Wall Street sometimes benefits Main Street. It is all well-and-good to be anti-corporate if Uncle Sam is paying your salary. However, when you want companies to create jobs you need to help those companies out. I have to give Obama credit he does have the capacity to change his mind when situations change.