President Barack Obama fed a swelling populist revolt against Wall Street bonuses, calling it “shameful” that banks doled out $18.4 billion as taxpayers bail out companies and the U.S. remains mired in a recession.Why, the nerve!
The bonuses are “the height of irresponsibility,” Obama said today before meeting Treasury Secretary Timothy Geithner and Vice President Joe Biden at the White House. Firms need to “show some restraint and show some discipline,” Obama said.
The president joined politicians such as Senator Christopher Dodd, who today called for using “every possible legal means to get the money back.” The bonus pool for 2008 by New York City financial companies was the sixth-largest ever amid record losses in the securities industry, State Comptroller Thomas DiNapoli said in a report yesterday.
Whoa..... Get the money back? You mean they're doing that with, wait - whose money? The money for which you dudes wrote special laws in less than a week so you could
Man. If you can't trust bankers to not bungle the money, who can you trust?
PS People who live in populist-led revolts should be careful about throwing populist-led revolts around.