Obama Upset with Wall Street Executive Bonuses
However, What Can Obama Do About Wall Street Greed?
President Obama's hands seem to be tied, other than making statements regarding the Wall Street bonuses. Obama proclaimed "That is the height of irresponsibility . 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."
This was just a few days after President Obama showed at least some sort of leverage, as his administration persuaded Citigroup not to buy a $50 million corporate jet from a French company. However, the sum of $18.4 billion in bonuses is the equivalent of 368 corporate jets at $50 million a pop.
Senate Banking Committee Chairman Christopher Dodd blustered that leaders will figure out a way to "get back" that Wall Street executive bonus money. However, Chairman Dodd faces the same dilemma as President Obama. How?
SOURCE
http://www.politico.com/politico44/perm/0109/message_for_wall_street_3751cf12-b4e4-4854-98fa-ca4a24ba2eb1.html
Published by Michael Thompson
Michael Thompson is a retired newspaper reporter who lives in Saginaw, Michigan. Main topics are political and social justice issues, with occasional escapism into sports and so forth. View profile
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5 Comments
Post a CommentWe need to do more. we need to write our senators and ask them to pass a law to Demand the Bonus Money Back! Do it here: it is easy: www.returnthebonus.com
Outraged.
Yeah, Dodd should give back that money he got from disgraced Countrywide Bank executive Angelo Mozilo. And those people at Fanny and Freddie got those fat bonuses for years while they bought all that bad debt from Countrywide.
I agree with David.
Indeed. Just how will he go about getting it back? Short of them voluntarily giving it back -- and that's as likely as convincing a redneck to hand you his gun (it ain't gonna hppen, bubba) -- that money is GONE...
Call them to Washington and put them in front of the US COngress. Require them to publicly explian why, what and who was behind this travesty. Publicly embarass them and name the companies they run. As a final act, charge them with fraud and extortion and recover the money given to them and then fine them for the ongoing irresponsible theft of public money.