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President Barack Obama said Thursday it was "outrageous" that Wall Street employees got more than $18 billion in bonuses last year. White House press secretary Robert Gibbs said the president told his staff of his reaction to the report by the New York state comptroller about bonuses paid by the securities industry to its New York City employees last year.
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"Whether it's government or the financial system, we're not going to be able to do what is needed to be done to stabilize our financial system if the American people read about this type of outrageous behavior," [Gibbs] told reporters. "I think it was the sixth-largest year of bonuses, and I don't think anybody that's opened their 401(k) statement has found out that this was the sixth best year for Wall Street."
Is it outrageous? Or is it their business what they do with their money?
These CEOs on Wall Street think they are untouchable dukes.
Im not defending it, just noting - in Merrill Lynch's big picture, that decorating bill wasnt really over the top. (I think a lot of the stuff were antiques, probably bought with an eye on how well they'd appreciate.)
They have, or had, something like 30 floors in the new financial bldg near where the WTC used to be. They were awash in money - and still are inside of Bank of America.
Should have been way more oversight and string's attached to the bill. I blame congress and anyone involved with the bill. The left conceded a bunch of crap to put the bill through and it was all total bs pork and didn't get what they wanted out of the bill.
I can't blame the businesses for doing what's in their best interest, but I can blame the government for not doing what was necessary to prevent that.
President Barack Obama said Thursday it was "outrageous" that Wall Street employees got more than $18 billion in bonuses last year. White House press secretary Robert Gibbs said the president told his staff of his reaction to the report by the New York state comptroller about bonuses paid by the securities industry to its New York City employees last year.
***
"Whether it's government or the financial system, we're not going to be able to do what is needed to be done to stabilize our financial system if the American people read about this type of outrageous behavior," [Gibbs] told reporters. "I think it was the sixth-largest year of bonuses, and I don't think anybody that's opened their 401(k) statement has found out that this was the sixth best year for Wall Street."
Is it outrageous? Or is it their business what they do with their money?
Obama should be even more ashamed that he threw himself the most expensive inaugural in history, while the US economy is in the deepest recession in quite a while. 150 Million plus on an inauguration while citizens go hungry! That is the real shame!!!!!!!! His inaugural expenditures were the real outrage!
Using money in whatever way they need to to make a profit. It's not my business and I'm not going to judge. Congress should have put strings on the money like "It's only to be used for these purposes".
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, when nothing happens to them they are indeed untouchable
