category

Obama ok with huge bonuses for banksters

Bloomberg

The president, speaking in an interview, said in response to a question that while $17 million is “an extraordinary amount of money” for Main Street, “there are some baseball players who are making more than that and don’t get to the World Series either, so I’m shocked by that as well.”

But certainly not shocked enough to do anything about.

“I know both those guys; they are very savvy businessmen,” Obama said in the interview yesterday in the Oval Office with Bloomberg BusinessWeek, which will appear on newsstands Friday. “I, like most of the American people, don’t begrudge people success or wealth. That is part of the free- market system.”

All of which has nothing to do with the issue at hand. Instead we’ve gotten bloated salaries and bonuses for bailed-out banks that would would probably be declared insolvent if not for the federal government allowing them to mark their assets to fantasy, not reality.

Bloomberg then follows with this head-scratcher.

Obama sought to combat perceptions that his administration is anti-business and trumpeted the influence corporate leaders have had on his economic policies. He plans to reiterate that message when he speaks to the Business Roundtable

What possible perception could anyone have that Obama doesn’t heart the banksters? He’s given them everything they want. Mr. President, one primary reason for your disintegrating influence and inability to get anything done is because many think “corporate leaders” have already have far too much influence in your administration.

Unsurprisingly, “Republicans are fast gaining in polls and influence” as our president, exhausted from his labors to insure banks get whatever they want, has accomplished virtually nothing else while in office.

HuffPo

Obama still doesn’t get it

What we have now is not a free market. It is rather one of the most complete (and awful) instances ever of savvy businessmen capturing a state and the minds of the people who run it. Is this really what the president seeks to endorse?

Clearly, the answer is Yes.And maybe that’s how he got into office.

  • Sue

    Unsurprisingly, “Republicans are fast gaining in polls and influence” as our president, exhausted from his labors to insure banks get whatever they want, has accomplished virtually nothing else while in office.

    Are the Republicans not equally complicit? I see no reason for anyone to support either party.

    • The Republicans are equally or more complicit, no doubt about that.