Though it is certainly good news that the president is taking the more rational and populist line in this divide, it’s a huge problem that he’s allowing people to speak for his administration who seem to be directly undermining his wishes – in this case, his wishes to stop banks and insurance companies from ripping off taxpayers.

*By the way, I once thought this all might be a super secret pony plan whereby Obama is good cop and Summers/Geithner are bad cop/stupid cop. Now, I don’t think that at all. When the Summers/Geithner insist that nothing can be done, and Obama insists that they better do something, that’s not good or smart messaging, and therefore likely not pre-planned strategy – it’s just having no message at all, and that’s bad.

I have this gut feeling that something we don’t know yet will click a few more of these puzzle pieces into place — the question is, from what direction will it get flung out into the public purview and by whom and for what reason?

I’ve asked Secretary Geithner to use that leverage and pursue every legal avenue to block these bonuses and make the American taxpayers whole.

Geithner so far? Fail.

What’s so special about derivative traders’ contracts that makes them immune from renegotiation or outright cancellation?

Unless, of course, they are holding a gun to the world economy’s head. But shouldn’t we be told that, then?