WASHINGTON – President Barack Obama says it is irresponsible and shameful for Wall Street bankers to be paid huge bonuses at a time when the American public is dealing with economic hardship. The president reacted harshly Thursday to reports that corporate employees got paid more than $18 billion in bonuses last year.
Said Obama: "That is the height of irresponsibility. It is shameful."
The president said he and new Treasury Secretary Timothy Geithner will have direct conversations with corporate leaders to make the point.
Obama said there is a time for corporate leaders to make profits and get paid bonuses but now is "not that time."
If the companies giving out the bonuses are not receiving bailout money, and are making the money to give out the bonuses, how is it bad? Why do people have to explain or feel bad for being successful? Is Obama vowing to work for minimum wage? Are any of the congressmen vowing to donate most of their pay to the "less-fortunate" of their constituents? I wonder when the President's title is going to officially change to "Comrade".
"I have always been a soldier. I have known no other life. The calling of arms, I have followed from boyhood. I have never sought another." From The Virtues of War, by Steven Pressfield.
7 years 50 weeks ago, 2:17 PM