Obama can protect Main St. From Wall St. He has done a lot already, but even that is not enough. Wall Street needs a full scale set of new regulations and oversight, but I sometimes do not think Obama is fully willing to go the extra mile to reign in rogue bankers.
Whenever we ask an authority to "protect" us, he must take away some of our freedoms to do so. President Obama could put a myriad of laws in place that revamps the financial industry in a way that would protect each and every one of us. But at what cost? What would we have to give up to make sure these protections would actually work? Would that be better than the alternative?
Yes, but it would not be easy. In order to do so, he would have to exert much pressure on the banking industry, and there are such strong lobbies, that it would be difficult. But what he can do is push for more regulation, and regulation that focuses on matters that affect the middle class.
I don't think it is at all possible. Wall Street controls Washington. It's just that simple. Obama cannot change big business any more then any other president. Wall street is main street in this world. Money talks and everyone else is poor, and Obama doesn't control it at all. What he can do is make them pay more taxes.