Jan 30 2009
Obama Scolds Wall Street - Now What’s He Gonna Do About It?
President Obama feigned mock expressed outrage at the 18 billion dollar in bonuses Wall Street paid out last year:
President Barack Obama issued a withering critique Thursday of Wall Street corporate behavior, calling it “the height of irresponsibility” for employees to be paid more than $18 billion in bonuses last year while their crumbling financial sector received a bailout from taxpayers. “It is shameful,” Obama said from the Oval Office. “And part of what we’re going to need is for the folks on Wall Street who are asking for help to show some restraint, and show some discipline, and show some sense of responsibility.”
Yeah. That’s great tht he thinks it’s shameful and all, but what is he going to do about it? Is he going to put condiditons on the rest of the TARP money or any other government money the banks receive? While I’m not a fan of George Will, I completely agree with him that if corporations take money then CEO’s salaries need to be capped at the rates of federal employees. Is President Obama going to do that?
Or, as I suspect, going to continue to expres “outrage” that the greedy bastards on Wall Street, continue to do what greedy bastards do: fatten their coffers and screw everyone else?
Come on Pres. Obama. Is this really “change” I can beleive in, or just more of the same bullshit? I need better. The American people need better and hell, I (We) expect better.
Great post. I tend to agree. While I’m not a fan of the bailouts in general, and I’m not a fan of us telling businesses how they can and can’t run (including how much to pay who), I think if we are going to use taxpayer money to bail them out, we should get some say.
And if he’s really outraged, let’s see him do something about it.
The same thing with the stimulus package. It’s really easy to meet with Congressional Republicans, put out the press release and pretend to work in a bipartisan fashion. But if that had actually happened, wouldn’t he have been able to push changes so that at least one Republican voted for it?
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