View from my seat of the President's event at Federal Hall in Lower Manhattan....

By Paul Westcott, Host of the White House Brief

It's been over 5 months of public option, co-ops, triggers and death panels and now one year after the Lehman collapse it's back to the economy - for a day.

The President's talking points today include a focus on the need more regulation, executive bonus caps and cut off the flow of tax payer money going to banks. After billions given to the financial sector and trillions backing up investments, I'm glad to see the President wants to get his hands into this one .

This of course comes after the White House under Bush and into Obama pushed for executive control of the funds. And now with billions still left out there, banks starting to trade and invest in exotic securities plus billions in bonus' being paid out, tax payers are angrily asking "where's our money?!".

A number of columnists have pontificated over the last few weeks asking, "Why is America so angry?"

One of the reasons is that people see the system as rigged, that no matter who's in the White House - a pro-business Republican or a Democrat promising hope and change it really comes down to a distrust of those pulling the strings. When financial leaders including heads of Goldman, BofA and Citi have access to the policy makers who are former heads of Goldman, BofA and Citi the public starts to feel left out.

Right now the federal government is the largest lender, automaker and accounts for 26% of spending in the United States - the largest since WWII. And while nations credit card is maxed out to the tune of $11.8 trillion there's no end in sight. President's Bush and Obama have set the precedent that a small group of politically protected companies is too big to fail. And now these same companies are heading down a road to repeat some of the same mistakes while making all new ones.

We'll get into more reasons Americans are upset with their government plus full analysis of the Obama economy event all on the WHB Late Read later today.

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