Could we have predicted?

Hell, yeah. Go read the whole thing. Drew Westen:

Leadership means heading into the eye of the storm and bringing the vessel of state home safely, not going as far inland as you can because it’s uncomfortable on the high seas. This president has a particular aversion to battling back gusting winds from his starboard side (the right, for the nautically challenged) and tends to give in to them. He just can’t tolerate conflict, and the result is that he refuses to lead.

We have seen the same pattern of pretty speeches followed by empty exhortations on issue after issue. The president has, on more than one occasion, gone to Wall Street or called in its titans (who have often just ignored him and failed to show up) to exhort them to be nice to the people they’re foreclosing at record rates, yet he has done virtually nothing for those people. His key program for preventing foreclosures is helping 4 percent of those “lucky” enough to get into it, not the 75 percent he promised, and many of the others are having their homes auctioned out from right under them because of some provisions in the fine print. One in four homeowners is under water and one in six is in danger of foreclosure. Why we’re giving money to banks instead of two-year loans — using the model of student loans — to homeowners to pay their mortgages (on which they don’t have to pay interest or principal for two years, while requiring their banks to renegotiate their interest rates in return for saving the banks from “toxic assets”) is something the average person doesn’t understand. And frankly, I don’t understand it, either. I thought I voted Democratic in the last election.

Same with the credit card companies. Great speech about the fine print. Then the rates tripled.

The president has exhorted the banks, who are getting zero-interest money, to give more of it to small businesses. But they have no incentives to do that. There are too many high-yield, reasonably low risk investments to make with zero-interest federal loans. I wouldn’t mind a few billion to play around with right now myself, and I can’t say I’d start with some guy who wants to start his own heating and air company, or an existing small business owner who is hanging on by his fingernails in tough economic times. I’d put my money in something like emerging markets, or maybe Canada. (Have you noticed how well Canadian equities are doing lately?) Or perhaps Chinese wind turbines. (Oh, we’re investing there already with stimulus funds.)

The time for exhortation is over. FDR didn’t exhort robber barons to stem the redistribution of wealth from working Americans to the upper 1 percent, and neither did his fifth cousin Teddy. Both men told the most powerful men in the United States that they weren’t going to rip off the American people any more, and they backed up their words with actions. Teddy Roosevelt was clear that capital gains taxes should be high relative to income taxes because we should reward work, not “gambling in stocks.” This president just doesn’t have the stomach to make anyone do anything they don’t want to do (except women to have unwanted babies because they can’t afford an abortion or live in a red state and don’t have an employer who offers insurance), and his advisors are enabling his most troubling character flaw, his conflict-avoidance.

Like most Americans I talk to, when I see the president on television, I now change the channel the same way I did with Bush. With Bush, I couldn’t stand his speeches because I knew he meant what he said. I knew he was going to follow through with one ignorant, dangerous, or misguided policy after another. With Obama, I can’t stand them because I realize he doesn’t mean what he says — or if he does, he just doesn’t have the fire in his belly to follow through. He can’t seem to muster the passion to fight for any of what he believes in, whatever that is. He’d make a great queen — his ceremonial addresses are magnificent — but he prefers to fly Air Force One at 60,000 feet and “stay above the fray.”

It’s the job of the president to be in the fray. It’s his job to lead us out of it, not to run from it. It’s his job to make the tough decisions and draw lines in the sand. But Obama really doesn’t seem to want to get involved in the contentious decisions. They’re so, you know, contentious. He wants us all to get along. Better to leave the fights to the Democrats in Congress since they’re so good at them. He’s like an amateur boxer who got a coupon for a half day of training with Angelo Dundee after being inspired by the tapes of Mohammed Ali. He got “float like a butterfly” in the morning but never made it to “sting like a bee.”

Do you think Americans ought to have one choice of health insurance plans the insurance companies don’t control, or don’t you? I don’t want to hear that it would sort of, kind of, maybe be your preference, all other things being equal. Do you think we ought to use health care as a Trojan Horse for right-wing abortion policies? Say something, for God’s sake.

He doesn’t need a chief of staff. He needs someone to shake him until he feels something strongly enough not just to talk about it but to act. He’s increasingly appearing to the public, and particularly to swing voters, like Dukakis without the administrative skill. And although he is likely to squeak by with a personal victory in 2012 if the economy improves by then, he may well do so with a Republican Congress. But then I suppose he’ll get the bipartisanship he always wanted.