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  • Stocks fall as Obama blasts bonuses [Bush's Fault]

    01/29/2009 2:04:33 PM PST · by Oldeconomybuyer · 65 replies · 1,797+ views
    Market Watch ^ | January 29, 2009
    NEW YORK (MarketWatch) -- U.S. financial stocks ended near their session lows after President Obama Thursday blasted Wall Street bonuses revealed yesterday as "shameful" and Vice President Biden suggested the government may try to claw back some of the money. New York's Comptroller Joseph DiNapoli reported late Wednesday that despite huge losses, bank failures and layoffs, Wall Street firms still managed to pay out $18.4 billion in bonuses. "It's the height of irresponsibility. It is shameful," the President said. "There will be time for them to make profits, and there will be time for them to get bonuses -- now...