OBAMA: What I didn’t fully appreciate, and nobody can
appreciate until they’re in the position, is how decentralized power is in this
system. When you’re in the seat and you’re seeing the housing market collapse
and you are seeing unemployment skyrocketing and you have a sense of what the
right thing to do is, then you realize, "Okay, not only do I have to
persuade my own party, not only do I have to prevent the other party from
blocking what the right thing to do is, but now I can anticipate this lawsuit,
this lobbying taking place, and this federal agency that technically is
independent, so I can’t tell them what to do. I’ve got the Federal Reserve, and
I’m hoping that they do the right thing—and by the way, since the economy now
is global, I’ve got to make sure that the Europeans, the Asians, the Chinese,
everybody is on board." A lot of the work is not just identifying the
right policy but now constantly building these ever shifting coalitions to be
able to actually implement and execute and get it done.
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