The press coverage of American Express's announcement that it will eliminate 5,400 jobs (the New York Times printed an Associated Press dispatch; Bloomberg coverage is here; the Wall Street Journal' article is here) manages to omit the highly pertinent fact that the American Express CEO, Kenneth Chenault, is a member of President Obama's Council on Jobs and Competitiveness.
If it were some Wall Street-White House crony of a Republican president announcing significant layoffs, it's hard to imagine that the press would miss the opportunity to make the connection.