An article in The New York Times.com describes how campaign ads from the left and the right are using the flimsiest of links to tie candidates to Wall Street. The candidates described in the piece rarely set foot in Manhattan much less worked for any white shoe investment firm.
Unfortunately it’s easy to fool the electorate with these ads. Most voters don’t know where Wall Street is. They don’t know the difference between a commercial bank and an investment bank.
It’s also unfortunate that these ads don’t take the time out to focus on the real issue behind the bailouts: that they were an unnecessary intervention into the financial markets. The Treasury and the Federal Reserve never made the case that there would be no credit infrastructure left if these banks were not bailed out. Sharing those insights would be a better investment of ad money.
Then again, it’s not the goal of politicking to educate the voter.