Obama has not lost his way. His team led by Summers and Geithner are making the same mistakes that they did in the formation of the first tech bubble in response to the Asican currency crisis and the Russian debt default. The Obama Administration is serving its employers and contributors on Wall Street.
The banks must be restrained, the financial system reformed, and balance restored to the economy before there can be a sustained recovery.
Here is a perspective from Jeff Sachs of Columbia University.
"Why is my language not clear to you? Because you are unable to hear what I say. You belong to your father, the devil, and you want to carry out your father’s desires. He was a murderer from the beginning, not holding to the truth, for there is no truth in him. When he lies, he speaks his native language, for he is a liar and the father of lies."
John 8:43-44