Obama Calls Wall Street Bonuses ‘Shameful’

Source: NYT

WASHINGTON — President Obama fired a warning shot at Wall Street on Thursday, branding bankers “shameful” for giving themselves $18.4 billion in bonuses as the economy was spinning out of control and the government was spending billions to bail out many of the nation’s most prominent financial firms.

Speaking from the Oval Office with Treasury Secretary Timothy F. Geithner by his side, Mr. Obama lashed out at the industry over a report, compiled by the New York State comptroller, Thomas P. DiNapoli, which found that over all, financial executives received the same level of bonuses as they had in 2004, when times were more flush.

It was a pointed and unusual flash of anger — if a premeditated one — from the president, and it suggested that he intended to use his platform to take a hard line against excesses in executive compensation.

“That is the height of irresponsibility,” Mr. Obama said angrily. “It is shameful, and part of what we’re going to need is for folks on Wall Street who are asking for help to show some restraint and show some discipline and show some sense of responsibility.

Read more: http://www.nytimes.com/2009/01/30/business/30obama.html?em

these pigs would be in chains awaiting their appointment with the firing squad.

Hang them in the town square.

What good does it do to cry "Shame!" to folks who obviously have no conscience or moral compass to begin with? Back up the "naughty naughty" admonitions with some real legislation requiring that these bonuses be forfeited. More action, less rhetoric. When the fox already has a mouthful of feathers, it's a little late to ask him to play nice with the chickens.

He should do something about it.....take the $$$$ back.

Actions speak louder than words.

Talk is cheap... I can do it all day

n/t

Capitalism would dictate that the profits stay in the company or go to the shareholders, not for big bonuses to the hired help. It is corruption writ large.

that's called corporate socialism.

They can do what they want with their own money but if they're showing up on Washington's doorstep with their hands out, there had better be some goddamn accountability for how they spend the money.

We invoke the name of the Almighty in hushed and reverent tones.

Tell us, pray, just what is this "capitalism" that you worship?

Are you really that dense?

all were calling that "socialism".


Oh, wait, that's only when the taxpayer money goes to non multi-millionaires. :eyes:

Then do something about it. It is time to take the money back, put into the hands of US & let US fix this economy and put these shameless asses behind bars in the middle of Time Square. Say YES to Small businesses across America and say FUCK YOU to the big Corporations!

:fistbump:

what the fuck is this???? Where's MY bonus and where's MY fucking bailout??? Yeah, I thought so.

bonuses, $1400 wastebaskets,new jets, luxury corporate retreats and the like. I never expected or elected AIG to watch out for my tax money, but I expected Congress to do that. Obama was very much part of that failure on the part of Congress.

The money that WS stole in "bonuses" would create 500,000 jobs that pay $36,800 a year.
I know that $36.8 may not be much to some, but over the last year I know at least a dozen folks that were laid off that made around that much.
I'm sure they would take it.
What productivity could 500,000 hard-working people generate?
What productivity did the thieves who made $18.4B in bonuses generate?

Source: Yahoo News

US President Barack Obama has called Wall Street bonuses "the height of irresponsibility" and "shameful".

CEOs are receiving extravagant perks while they are firing staff and pleading for taxpayer bail-outs.

Mr Obama said he is outraged by a New York State report that $18.4 billion (£12.8bn) in Wall Street bonuses were paid in 2008 as taxpayers rescued the crumbling financial system.

"That is the height of irresponsibility. It is shameful," Mr Obama said.



Read more: http://uk.news.yahoo.com/4/20090130/twl-wall-street-perks-irresponsible-41f21e0.html

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annually?

He gets $4.6 BILLION from the coal companies? That is your contention?

Do you have any source for that?

Your fuckbag party is responsible for 70% of the national debt.

Not that you're going to be around to be educated about any of this.

But just now the tremendous grief the republicons caused with their greed, corruption, and incompetence is coming to light, as they planned -- so they could blame someone else. As usual.

America don't need no steenkin republicon 'we are innocent (smirk)' propaganda. Americans know the Homelanders flushed our economy, our environment, and our moral honor down their own peculiar & deviant wide-stance, diaper-clad crapper long ago.

Get thee to a Freepery, where propaganda is welcome. We prefer facts and truth around here.

and throw the pirates out.

They brag about not being able to get out of bed for less than 10 million. They need to be fired and replaced with someone that can haul their sorry ass out of bed for free.

that would teach a lesson...actions speak louder than words.

Get it back, spend it on kids and healthcare, or just about anything would be better than what these thieves are doing with it.

bailout money or government subsidy; Ex facto. Put the money, that is in the hundreds of bullion's, toward buying up mortgages, direct lending, paying down the deficit or into the bailout funds or all of the fore. Then watch these pigs squeal.

:thumbsup:

rest of that thought. 100% "bailout tax" on executive bonuses; that would be a nice start. :grr: