Posted on 01/31/2009 7:45:08 PM PST by tobyhill
President Obama, usually cool, was visibly angry in his weekly address, chastising corporate bankers for the second time this week for accepting taxpayer bailout money and then doling out $18 billion in executive bonuses.
"The American people will not excuse or tolerate such arrogance and greed," Obama said in the video and radio message released today. "Even as they petitioned for taxpayer assistance, Wall Street firms shamefully paid out nearly $20 billion in bonuses for 2008."
Administration officials challenged a report in The Washington Post that suggested Obama was unlikely to tighten restrictions on compensation for banks that accept bailout funds, saying the report was "simply untrue."
White House and Treasury officials said the president will soon crack down on those big bonuses, shareholder enrichment and overall accountability.
Banking executives have long argued that they need to pay bonuses to retain quality executives.
(Excerpt) Read more at abcnews.go.com ...
But, but, but...those bonuses will be taxed at the highest personal tax rates, and the government(s) will get 50% or more of them.
So what’s the problem?
Saul Alinsky
Driving into town today I got to thinking about what I would do if I were the president faced with this economic disaster. Would I count on the loons in Congress to write a bill to fix things? Nope. I would get the best economists, bankers and businessmen in the world to come up with the best solution, have them write up the bill, and give it to Congress to approve. It’s a one shot thing that will hang so much debt around our necks there may not be another chance to get things back on track. We need experts handling the problem, not the jokers in Congress. Here we are in the midst of a problem as great as any we’ve faced, and Congress wants to use up our resources on political pork. It’s the only thing they know how to do with money. Even if the loons get the bill past the Senate, Obama should tear it up, and do it right, with people who know what they are doing.
Worth it for those pulling his strings. Maybe they won't jerk so hard on them now.
: < )
Even a stopped clock is right twice a day, in this case Zerobama about the Wall Street crooks slopping at the TARP trough. If you have your grabby mitts in the public till, ya better not be giving yourself a hefty bonus at American taxpayer expense.
You buy into socialism, you trim your @#@^@$ budget. You stay free market, you can do as you please. That’s the deal, parasites.
At first I thought obama was talking about himself
Hard to believe Obama about not tolerating arrogance and greed when he just finished nominating two tax cheats for cabinet posts.
Its just another “religion of the Left” being shoved down our throats—excuse the pun..
the Left rants about Christianity, they worry about the separation of the Church and state....
and yet, the Lefts top 4 religons—Homosexuality, Global Warmers, Abortion, Anti-capitalism have every access to Govt, every access to MSM, Every access to Govt Funding
Those “religions of the Left” are pushed on us, forced on us at every juncture, every turn.
And what about the arrogance, greed, and incompetence of the federal government.
By arrogance and greed, the magic marxist really means business and profit.
And that will not be tolerated!
......but they had better tolerate by tax cheating greedy cabinet.
by = my
Profit? You must be kidding. We are bailing them out. I don’t like Obama, and I don’t like Wall Street.
Check the earnings statements.
Out of the four biggest TARP recipients, Citi, Bank of America, JP Morgan and Wells Fargo, only Citi lost money last year. ‘course they lost a lot of money.
The press is throwing around statements like ‘wall st pays $18 billion in bonuses’ along with ‘greed and arrogance’ without any context. Yes, there are abuses. But there are also still a lot of financial firms that are profitable and even some that haven’t gone to the goobermint begging for a handout.
Of all the people in this world who have no right to lecture us on greed, etc. it’s this empty suit. He is surrounding himself with the people who are the epitome of just such character, and I use that word loosely, traits.
I fear we are in for a tough four years, at least. Might as well decide right now to find a way to handle it because it’s going to be a staple.
They should not be allowed to make more than Obama makes. Actually, they should make less than the president, because they're not contributing, but they're using!
Hey Obama, we’re p.o.’d about how you’re plundering the Treasury to pay the keep the Democrats indefinitely in power. Putting Party first before the country. It’s the Democrat way.
Precisely. How much porkulus funding is going to ACORN?
Apparently, the beef can be Wagyu without being Kobe.
http://members.tripod.com/~BayGourmet/wagyu.html
Passing out bonuses earned under compensation agreements is legal and not arrogance.
Arrogance is getting elected president when you are not eligible to hold the office.
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