“When you’re on their side, it’s all OK, but if you’re not, they rain hell down on you,” said R. Bruce Josten, executive vice president of the U.S. Chamber of Commerce, bemoaning the administration’s bellicose response to differing opinions on health care and financial regulatory reform proposals…

“The administration is playing hardball,” a former Wall Street lobbyist said. “No one wants to be the one that puts their head up to get it knocked off by the White House. Just ask the Chamber of Commerce or the health insurance industry how well that strategy worked for them.”

But privately, banks, credit card companies and other financial-sector entities have expressed mounting frustration at what they say are unfair shots by the White House – accusing the president of exaggerating Wall Street’s failings for political gain.