Chapter 6: Vertical policy initiatives of President Obama
The Obama administration has implemented policies in four industries within the services sector: financial services, health care, culture, and education. In this section we will concentrate primarily on the financial services industry. A broader discussion of the health, culture, and education sectors is found later, under the heading “Policies for Groups of Industries”. Action toward financial services received priority because the financial services industry has been the epicenter of the recession. A reformed and revitalized financial services industry was viewed as indispensible for economic recovery. This special attention was probably not in the initial intention of the candidate Obama but the strength and the severity of the incoming crisis rapidly drove government intervention in this sector. The need for a government able to manage the dramatic events and capable of mediating the growing conflicts between different category of citizens and actors, soon became evident to everybody.
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