It is certainly evidence of some serious turmoil within the White House that just a week or so ago Volker said in an interview on Bloomberg that his advice was not being followed and gave the impression that he had given up on having any influence within the Obama economic team. What a relief to hear things seem to have have changed. Now I guess we find out if that is true and what happens.

My guess is that if any "real" changes are ever actually seriously proposed Wall Street will react like the spoiled brat children they are, much like they reacted in the UK where threats of moving staff out of London to Spain was the response to a tax on excessive bonuses. Wall Street IS the market, and they can send it down significantly as a sign of their power and dislike for anything Obama might propose. A pi$$ing match between the White House and Congress against Wall Street would do no good for the average citizen but may be necessary to re-establish just who runs this government.