Obama to Bankers: I’m Standing ‘Between You and the Pitchforks’
ABC News’ Matthew Jaffe reports: When President Obama welcomed the chief executives from 13 of the nation’s biggest banks to the White House last Friday, White House Press Secretary Robert Gibbs billed it as a “good, productive, and frank” conversation. Emphasis, it appears, on the frank. As first reported by Politico’s Eamon Javers, and confirmed by ABC News with industry sources, some bankers gave explanations for the industry’s high salaries, such as "competing for talent on an international market." But, President Obama cut them off. "My administration is the only thing between you and the pitchforks," the president told them. The CEOs might have guessed they were in for a rough go of it. They found themselves gathered at a table with nothing more than a single glass of water at each seat. No food, no other beverages, no ice — no refills, even. During the meeting, JP Morgan Chase CEO Jamie Dimon jokingly presented Treasury Secretary Tim Geithner with a fake check for $25 billion, the amount of money the bank got from the Troubled Asset Relief Program. Geithner didn’t take it. Joked Bank of America CEO Ken Lewis later, "I’m not going to suck up to Geithner and [NEC Director Larry] Summers like the other CEOs here have." After the meeting last Friday, one bank CEO told ABC News, "There were differences of opinion. I wouldn’t say it was contentious, but we weren’t all sitting around the table singing ‘Kumbaya’ either."
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The Bamster will be facing a pitchfork of his own come (re)election time.
Posted by: Kitty | April 3, 2009, 6:44 pm 6:44 pm
Kitty….You Think?
A Leader indeed. Thanks, Mr. President for standing for the American people. Bamster? What do you mean? Oh, that is what someone told you that you were.
Posted by: sngeorgia | April 3, 2009, 6:53 pm 6:53 pm
Good for Obama – now if he would release the torture memos and let the world see the evil, corruption and international law breaking that took place under the last Republican administration we could really get the pitch forks out!
Posted by: Kate1149 | April 3, 2009, 6:53 pm 6:53 pm
Get those pitchforks out. Obama is part of the problem.
Posted by: CW | April 3, 2009, 6:59 pm 6:59 pm
I see a lot of the arrogant people I have run into over the last 65 years in this administration. My way or the highway is how they put it to people who did not agree with them. Really coming on strong out of Washington.
Posted by: William | April 3, 2009, 7:04 pm 7:04 pm
Obama is such a hero.
Posted by: Ryan C | April 3, 2009, 7:06 pm 7:06 pm
Odd how the president talks a big talk when in his comfort zone. You know, in DC, New York, or LA. There, behind closed doors, he rants the anti-capitalism puke, once again threatening private enterprise and the way of life that has, for the most part, made our great country what it is.
Or perhaps his new comfort zone in Europe, where he spins his socialist spill, steadily trashing America, talks of the leadership role of Europe in the world, as if it were the French that ran the Nazi invasion out of France. You know, the same Europe that gave the world the Nazi’s, socialism, Communism, etc. And he speaks of change and a new AmeriKa.
Then he will most likely come back to the new AmeriKa, and have a town hall meeting in LA, NY or DC. But to flip his own words on him, don’t come to the heart land. For there, the only thing between the pitch forks and himself are, well, nothing!
Posted by: TxBoB | April 3, 2009, 7:12 pm 7:12 pm
Oddly enough, I sort of see Obama as being one with the bankers instead of the people.
Posted by: jan | April 3, 2009, 7:12 pm 7:12 pm
Yes, sngeorgia, I think. The rest of your post … just gibberish.
Posted by: Kitty | April 3, 2009, 7:14 pm 7:14 pm
Meaningless words from Obama. He must be getting ready to give the banks more money. Freddie and Fannie are getting $210 millions in bonuses. Where is Obama’s “outrage”? Where are the 3 million jobs Obama promises?
Posted by: CW | April 3, 2009, 7:14 pm 7:14 pm
Assuming the reporting is correct, what the Pres. said is true. The American people are totally fed up with the corporate greed, arrogance, and stupidity that caused this mess. The neo-hooverians should be happy they have Pres. Obama in office and not Teddy Roosevelt. That’s right. We had this debate 100 years ago and the forces of greed lost then too.
Posted by: B. Bear | April 3, 2009, 7:16 pm 7:16 pm
The history of Obama shows he hangs out with crooks.
Posted by: jade | April 3, 2009, 7:25 pm 7:25 pm
B.Bear….people like yourself are going to be absolutely stunned when you see what your Messiah has done to the AmeriKan piggy bank once the full force of the spending package, TARP, the trillion the reasury floated to the federal reserve only a week or so ago, the massive $3.7 trillion budget, which is the most irresponsible piece of legislation ever passed in this country.
You think corporate greed has this country in a fix? You just wait until we are running those $1 trillion per year deficits, wait until 2019 when the interest alone on our deficit is $806 billion (more than last years deficit).
Just think, you’ll get to explain how our generation bankrupted our country to your grandchildrean and great-grandchildren. Maybe you should get a new calculator or something.
Posted by: TxBoB | April 3, 2009, 7:35 pm 7:35 pm
If the President were truly on Main Street’s side, he would have said that I am also carrying a pitchfork so stop the bonuses, jets, and junkets until your off of corporate welfare.”
Is there any DC politician that can put these guys in their place? Well, they could but they won’t!
Posted by: Angela | April 3, 2009, 7:37 pm 7:37 pm
ABC ran the story of Fannie and Freddie $210M in bonuses for about 1 hour.
Yet, the story about Michelle’s outfits is still a headline. First thing first.
Right?
Posted by: CW | April 3, 2009, 7:40 pm 7:40 pm
Wow. For the FIRST time in years the President stands up to some of the businesses that have run things into the ground and takes them to task and the conservatives who were all for the de-regulation that allowed the finance companies to screw themselves so completely that they had to be bailed out want to cry hwo unfairly they have been treated. THe main problem with the economy at the moment is that credit is not flowing. The banks control the credit. These CEO’s are holding my country hostage for their own profit and amusement. You want your pure capitalism, take back the bailouts and let them sink or swim.
Posted by: Louis | April 3, 2009, 7:44 pm 7:44 pm
I love to suck Obama’s C0CK
Posted by: Louis | April 3, 2009, 7:45 pm 7:45 pm
I said this before and I will sy it again, get a sailboat and sail off into the sunset, cause that is what it is comming down to.
Posted by: pink stocks are a scam | April 3, 2009, 7:46 pm 7:46 pm
l0uis you are cum drunk
Posted by: pink stocks are a scam | April 3, 2009, 7:53 pm 7:53 pm
obama isn’t between the bankers and the pitchforks.
..
he’s with the pitchforks
Posted by: realityville | April 3, 2009, 7:54 pm 7:54 pm
Your crooks rode off to Texas in January, midget minds.
Posted by: sngeorgia | April 3, 2009, 7:55 pm 7:55 pm
Kitty….don’t bet on your thinking…it’s irrational and small at best.
Posted by: sngeorgia | April 3, 2009, 7:57 pm 7:57 pm
Hee, Hee.
Posted by: sngeorgia | April 3, 2009, 7:58 pm 7:58 pm
Louis….so right. Midgets minds at it’s best. Remember they elected Bush 2X’s.
Posted by: sngeorgia | April 3, 2009, 8:00 pm 8:00 pm
William:”Really coming on strong out of Washington.”
Yeah, almost like he’s a leader or something.
Posted by: jhw539 | April 3, 2009, 8:06 pm 8:06 pm
sngeorgia, you could be founding members of CDA/cum drunks an0nymous
Posted by: pink stocks are a scam | April 3, 2009, 8:09 pm 8:09 pm
hey sngeorgia, your brain might have a hard time with this …. my conscience is clear BECAUSE I didn’t vote for the Bamster or Bushie Boy, and there are lots of us out here who will do whatever we legally can to make sure the Bamster never gets reelected. You, on the other hand, should be ashamed of yourself for what you and yours have heaped on future generations. You should be ashamed of yourself, sngeorgia – ashamed. You are pitiful.
Posted by: Kitty | April 3, 2009, 8:20 pm 8:20 pm
Another Obama show !!! In the meantime Fannie and Freddie are giving $210 million in bonuses. Read it here……….
http://abcnews.go.com/Business/Economy/wireStory?id=7249708
Posted by: CW | April 3, 2009, 8:21 pm 8:21 pm
Your crooks rode off to Texas in January, midget minds.
———————————–
And possibly soon, Texas will ride off into the sunset, leaving socialism behind, along with most of the energy you consume. But that’s okay, Odumba will give you solar panels, wind turbines, and camels for transportation!
Posted by: TxBoB | April 3, 2009, 8:33 pm 8:33 pm
I think it may be over for America.
Posted by: young_voter | April 3, 2009, 8:39 pm 8:39 pm
Try going to say Bank of America and opening a savings account now that they have all been bailed out. They will tell you that all savings accounts have a 3 withdrawls per month minimum or you cant have a savings (that pays interest) only a checking (where they make money off you). These are the greedy institutions Obama supports. Banks dont want to help people anymore unless they can tie up your money for a long time (for fear of losing it on bad investments).
Posted by: paulieshere2 | April 3, 2009, 8:48 pm 8:48 pm
I meant 3 withdrawls per month MAXIMUM on a savings account.
Posted by: paulieshere2 | April 3, 2009, 8:50 pm 8:50 pm
TxBob – You continue to spout “socialist” this and that regarding the Obama administration. What policies are socialist and why are they “socialist”?
Posted by: Stop the Nonsense | April 3, 2009, 8:55 pm 8:55 pm
Paulieshere2 use a local bank or a credit union, they are the ones that are really helping people
Posted by: dot | April 3, 2009, 9:21 pm 9:21 pm
Obama playing his usual chicago thuggish ways. It was the acorn people that were protesting the workers at AIG. I wonder who sent them. I just love this new admin. Don’t pay taxes get put into a cabinet position, have an illegal aunt sucking the tax dollars from the ones that earn it. Release Al Quaida prisoners and put them into apartments in the US. Spend all of our tax dollars on stupid crap! But the Queen of England an Ipod. Buy a 25 set of DVD’s that don’t even work in that country! Go over seas & down talk his own people! Fund abortions and then want to go talk to a catholic school at their commencement! Some one please wake me up from this gruesome nightmare
Posted by: barb | April 3, 2009, 9:36 pm 9:36 pm
This economy started to go way south once all those manufactoring jobs were sent to China and back office to India. Once there is not job left in the US we will be unable to consume anything manufacture anywhere in the world.
By the way, our children’s future started to be mortgaged when the US invaded Iraq where we are still spending over one billion dollars a month while the kid in the US of A cannot compete with those of other countries. Go figure.
Posted by: GetReal | April 3, 2009, 9:36 pm 9:36 pm
I don’t buy the reasoning behind paying higher salary is to attract international talent. I’m sure if any of the execs were to work in another country they would not have the salary, bonuses and perks that they would in America.
Posted by: rufreakingkiddingme | April 3, 2009, 10:08 pm 10:08 pm
Tough love? “Here you go, here’s about a trillion dollars.” Tough love? Americans, as a people, have become slaves to the ruling and the rich.
Posted by: Kristen | April 3, 2009, 10:08 pm 10:08 pm
Posted by: TxBoB | Apr 3, 2009 8:33:19 “And possibly soon, Texas will ride off into the sunset, leaving socialism behind, along with most of the energy you consume. But that’s okay, Odumba will give you solar panels, wind turbines, and camels for transportation”
Is this where you supposedly cecede from the US? LOL Yea, that’s a wet dream junior.
Posted by: TxBob full of it | April 3, 2009, 10:10 pm 10:10 pm
Some one please wake me up from this gruesome nightmare
Posted by: barb | Apr 3, 2009 9:36:14 PM
*******************
Yes, “barb” – your completely fear-based, irrational, ill-informed mindset can definitely be the trigger of your nightmares.
Posted by: yup | April 3, 2009, 10:32 pm 10:32 pm
LOL….idiots. Do you really think that Obama didn’t know about the last minute changes that gave AIG the bonuses? Wake up! It was his administration that gave them that “loophole” at the 11th hour. My dear God, why are Americans so dumb?
Posted by: Bobby Truth Likes to wake you | April 3, 2009, 10:46 pm 10:46 pm
This is what happened when Clinton left office. He signed the Agreement for free trade and we have been losing jobs ever since. Bush fights a war and forgets about the balance of economics in the United States. In the meantime, he is cashing in on the oil prices- bsing a oil barron of sorts.
Here in Michigan, we have a governer that thinks casinos and film making is going to save our homes and pay higher state taxes. What is wrong with these people? We need real jobs and some tax breaks until you politicians get your heads out of the south side of a north bound donkey.
Give me back all the federal taxes I ever paid to the federal gov and I will stimulate the economy… I promise…
Posted by: DKD | April 3, 2009, 10:57 pm 10:57 pm
The Obama haters are out in numbers again tonight. Let them have their fun, they have little else to be happy about in the sad and sorry lives they appear to lead.
Our President has the full support of most Americans, and based on his trip abroad. most people on the planet. That makes it all the more depressing for those who love to hate.
May the good Lord bless them and ease their pain.
Posted by: Herb Gray | April 3, 2009, 11:07 pm 11:07 pm
I found a site that I think your viewers and people who post on this board would find interesting.
It is the AFL-CIO Executive PayWatch Database. On this site, you can find out how your salary compares with your CEO’s.
I did several calculations and in many cases,it takes hundreds of years for the average worker to earn what his CEO will be able to earn in one year. No wonder the people are up in arms about these salaries! It doesn’t seem right that what you,your children and your grandchildren earn in their lifetime may be less than what one CEO earns in a year.
http://www.aflcio.org/corporatewatch/paywatch/ceou/datbase.cfm
Posted by: Deanna Jewell | April 3, 2009, 11:14 pm 11:14 pm
LOL! I love this! Now the bankers are finally understanding the meaning of the phrase, “What goes around comes around.” The American taxpaying public is not stupid and is not playing around anymore. If this motley crew of avaricious, sneaky, arrogant, self-important, prevaricating, self-serving, conceited, thickheaded, money-lusting thieves messes up again…. they’ll all go home with some very sore butts from the pitchforks!
Posted by: l | April 3, 2009, 11:17 pm 11:17 pm
Troll alert. Troll alert.
Obama takes Europe! Anti-Obama Americans don’t know how to deal with the fact they are in the global minority when it comes to supporting their own president. They are feeling very stupid tonight! Read on…
Posted by: clarity | April 3, 2009, 11:18 pm 11:18 pm
All of you Obama-haters are truly laughable. If you had one single valid point to back up your accusations I’d take you seriously, but you don’t seem to think you need any. You’re all still stuck on his birth certificate or whatever.
Y’all just keep talkin’ your trash. The intelligent people of this country can ignore you quite easily.
Posted by: Jaylah | April 4, 2009, 12:01 am 12:01 am
Just another calculated story to make you believe Obama is FOR the people!! — Oh, and it foments his “class envy” mantra that his administration thrives upon!! — No, the pitchforks will be coming after Dems in 2010, and Obama in 2012!!!!
Posted by: TheLoyalOpposition | April 4, 2009, 12:12 am 12:12 am
Jaylah — The intelligence of the typical Obama supporter was already established on election day by reporters taking exit polls data and asking pertinent questions —- Yes, Obama supporter’s couldn’t define what Obama was “FOR” or “AGAINST”, they just like his speeches!!!
Posted by: TheLoyalOpposition | April 4, 2009, 12:18 am 12:18 am
Jayla: They have no valid points to offer; only quotes from the talking heads who brainwashed them for the last two years. Most Americans are proud to have a President that has intellect and humility. His critics on this site don’t know what to make of it so they resort to Hannity-style insults and juvenile name calling. When Obama speaks, they really don’t hear him because (1) they are too biased to be objective and (2) his intellect is over their heads. It must be very frustrating. As Obama has said “the ground has shifted beneath their feet”.
Posted by: Mike from Carolina | April 4, 2009, 12:39 am 12:39 am
Here’s a piece from the Washington Post, I am not surprised that ABC is not covering this… but other media are starting to talk…
Administration Seeks an Out On Bailout Rules for Firms
http://www.washingtonpost.com/wp-dyn/content/article/2009/04/03/AR2009040303910.html?hpid=topnews
Posted by: lm | April 4, 2009, 12:41 am 12:41 am
Obama is for socialism & against the American people & the constitution. He doesn’t give good speeches he just reads the telepromter well. BIG DIFFERENCE! He is in Europe on their soil (like to Dixie Chicks)insulted our country & calling us arrogant,demissive & derisive. What a great American standing up for our GREAT COUNTRY!!With Presidents & friends like him who needs enemies?
Posted by: egw | April 4, 2009, 12:50 am 12:50 am
Is there anybody who still maintains an account with these banks? Move your money to a responsible bank. Stop supporting these clowns.
Posted by: Bethany | April 4, 2009, 12:55 am 12:55 am
“Uppity?”. You betcha, in spades.
Posted by: Trajan | April 4, 2009, 1:04 am 1:04 am
egw: You make two things very clear. You didn’t see the speech that you reference (incorrectly) and you don’t know what a telepromptor is used for. BTW, only tyrants are insulted by the acknowledgement of faults and mistakes. Doing so is the opposite of self-righteousness; also known as humility.
Posted by: Mike from Carolina | April 4, 2009, 1:04 am 1:04 am
Wow! If the the Hannity, Limbaugh parrots are squaking this loud when only three months into our President’s first term, can you imagine what it’s going to sound like as he finishes up his second? The light will probably come on about then, and their going to realize that they just guaranteed an additional 8 years of Democrat rule.
Posted by: abaloneca1 | April 4, 2009, 1:07 am 1:07 am
egw’s ranting — Just had a good laugh while reading your post egw. Have you ever wondered who the foreign dignataries and media are talking about when they speak of the division,hate, and hysteria directed at the Obama Administration? Read what you just posted, then explain to us all about your patriotism.
Posted by: Alan | April 4, 2009, 1:18 am 1:18 am
Alan: Your point is well taken but it’s not really funny. What egw is displaying is our own brand of fascism, as in no tolerance for the diversity of ideas. It has nearly destroyed civilization in the middle east.Foreigners who know our historic embrace of hatred and bigotry against “others” aren’t likely to dismiss this element in that they know that ignorance dies very slowly. Sometimes it takes decades or more.
Posted by: Mike from Carolina | April 4, 2009, 1:42 am 1:42 am
Some bankers gave explanations for the industry’s high salaries, such as “competing for talent on an international market.
Like a gay guy in the military always used to say back in 1976, “Spare me. If I wanted bull….I would go to the ranch.”
The bankers need to such it up & join the rest of us. No more with the top 2% of the population getting 25% of the income, 20% getting half the income and half the population making due with 13% of the income. The rich can rationalize anything, but the poor know the truth.
Posted by: Coffee | April 4, 2009, 1:43 am 1:43 am
I’m getting squarely behind Obama.
That way I won’t get a cream pie in the
face when they start to fly.
Posted by: Trajan | April 4, 2009, 1:49 am 1:49 am
You know alot of people forget that each president inherits something from the previous guy-Johnson got the Vietnam “conflict”, Clinton got “Reagonomics”, Baby Bush got a surplus of money and largest clusterf**k of “intel” on terrorism. Obama got Baby Bush’s TARP, Big Bank arrogance and too many people wanting to place the last 8 years on his sh*tlist. People- Don’t judge until at least a year has gone by- let him make his own mistakes but Do Not Blame the new guy for the other guy’s mistakes. In order to make money (and get out of this recession) you DO need to spend money. Just remember who gave authorized $700 Billion -WITH NO STRINGS ATTACHED SHOWING HOW MONEY WAS TO BE SPENT -IT WAS NOT OBAMA!!!! He at least got the BIG 3 to agree to present plans on how and when they would tart paying back money!!!!
Posted by: kat | April 4, 2009, 2:22 am 2:22 am
You know alot of people forget that each president inherits something from the previous guy-Johnson got the Vietnam “conflict”, Clinton got “Reagonomics”, Baby Bush got a surplus of money and largest clusterf**k of “intel” on terrorism. Obama got Baby Bush’s TARP, Big Bank arrogance and too many people wanting to place the last 8 years on his sh*tlist. People- Don’t judge until at least a year has gone by- let him make his own mistakes but Do Not Blame the new guy for the other guy’s mistakes. In order to make money (and get out of this recession) you DO need to spend money. Just remember who gave authorized $700 Billion -WITH NO STRINGS ATTACHED SHOWING HOW MONEY WAS TO BE SPENT -IT WAS NOT OBAMA!!!! He at least got the BIG 3 to agree to present plans on how and when they would tart paying back money!!!!
Posted by: kat | April 4, 2009, 2:22 am 2:22 am
I voted for Obama but he seems to be making a lot of decisions that the Bush Administration would have made.
We are supposed to think he’s being hard on the banksters because they only got water. Let’s not forget that he’s quenching their insatiable thirst for money with trillions of dollars.
The new Bloomberg article says it all: Financial Rescue Nears GDP as Pledges Top $12.8 Trillion.
When you try to fathom that our government is handing out $12.8 trillion to the banksters, you realize the bonuses and cups of water are a distraction from the quickness at which our money is being given to thieves.
We need not fight between left and right. Unite! Throw away party loyalty and analyze each issue one-by-one. Let’s be true to ourselves rather than the party line.
Posted by: Independent Thinker | April 4, 2009, 2:58 am 2:58 am
Independent Thinker: I totally agree with you! Pointing fingers isn’t really going to get us anywhere.
Posted by: MLD_512 | April 4, 2009, 3:16 am 3:16 am
All Democrats who read this post: BARACK WON!:) Bush? Bush who? BUSH WON! YOU LOST! THAT WAS THEN! THIS IS NOW!ROFLMAO Get over it, seriously…It makes you look desperate. Haggle about the future, not the past. WAR CRIMES! WAR CRIMES! BOOHOOHOO! STOLEN ELECTION! BLAHBLAHBLAH! If you’re always playing defense you’ll never win the game.
Posted by: HA! | April 4, 2009, 3:27 am 3:27 am
kat—You know alot of people forget that each president inherits something from the previous guy—————-
kat, you do make an interesting point. I bet you $100 that Obama does not seek re-election in 2012. Think about that!
Posted by: HA! | April 4, 2009, 3:31 am 3:31 am
I wouldn’t mind if our fine president just stepped aside and gave me the pitchfork. However I would prefer a logchain and a truck.
Posted by: matthew | April 4, 2009, 3:37 am 3:37 am
It would appear that the President is echoing the fortitude of those that elected him to be their voice. How quite refreshing. Cutting through the crap often releases the spirit. As for those that wish to hide under a rock and “make it all go away”… That will not happen anytime soon. Kindly remember that procrastination versus proactivism sites well for the latter.
Posted by: andthenshesaid | April 4, 2009, 5:29 am 5:29 am
A piece of grandstanding from Obama meaning nothing because via the signals given due to ongoing payments, refusal to investigate, oversee, or control what they spend their money on, and refusal to tax the bonuses they have no need or reason to change their ways.
“They found themselves gathered at a table with nothing more than a single glass of water at each seat. No food, no other beverages, no ice — no refills, even.” …..Strange statement that one. Most of us would find that ordinary everyday treatment. The CEOs see it as maltreatment or lack of respect?
Posted by: jan | April 4, 2009, 6:06 am 6:06 am
Financial Industry Paid Millions to Obama Aide
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Article Tools Sponsored By
By JEFF ZELENY
Published: April 3, 2009
Obama = Just words…
WASHINGTON — Lawrence H. Summers, the top economic adviser to President Obama, earned more than $5 million last year from the hedge fund D. E. Shaw and collected $2.7 million in speaking fees from Wall Street companies that received government bailout money, the White House disclosed Friday in releasing financial information about top officials.
Posted by: realnyer | April 4, 2009, 6:07 am 6:07 am
Financial Industry Paid Millions to Obama Aide
Obama = Just words…
By JEFF ZELENY
Published: April 3, 2009
WASHINGTON — Lawrence H. Summers, the top economic adviser to President Obama, earned more than $5 million last year from the hedge fund D. E. Shaw and collected $2.7 million in speaking fees from Wall Street companies that received government bailout money, the White House disclosed Friday in releasing financial information about top officials.
Posted by: realnyer | April 4, 2009, 6:09 am 6:09 am
Fannie and Freddie are getting $210 million dollars in bonuses. Where is Obama’s “outrage”.? Read it for yourself….http://abcnews.go.com/Business/Economy/wireStory?id=7249708
Posted by: CW | April 4, 2009, 6:45 am 6:45 am
Nice of the President to hold back the nagry mob after he and his cronies incited the mob.
Posted by: RH | April 4, 2009, 7:23 am 7:23 am
It isn’t just the bankers, it’s the greedy executives from all corners. It isn’t Dems or Repubs, it’s all of the lying politicians. And, those aren’t pitchforks. Pitchforks don’t have triggers!
Posted by: Reality Check | April 4, 2009, 7:36 am 7:36 am
Pitchforks, like in the Frankenstein movies? So called investment bankers have looted America while government regulators stood by mute, and I’m inclined to think they should get exactly what they deserve, whether pitchforks, or whatever – they need to feel the wrath of the rest of us who ponyed up the loot they took. Retail banks transformed from banks into money stores through some clever marketing taken directly from the cell phone kiosks at the mall – they hired the same cell phone salespeople to originate mortgages, and threw common sense out the window to give money to people who couldn’t afford to pay it back. Maybe pitchforks are the appropriate response to the retail bankers, too. Obama is no hero, seems to be using this crisis to further his socialist objectives, and he will be booted in a few years – the only question is how much harm he will do in the meantime, and how lasting it will be. I’m not at all sure where my country has gone in the past few months, I don’t recognize it anymore.
Posted by: Lee | April 4, 2009, 7:42 am 7:42 am
The banks have won again. That’s all you need to know. Soon all money will be play money. A wheelbarrow of money for a loaf of bread. Pitchforks and wheelbarrows. We will all be farmers soon!!
Posted by: JimM | April 4, 2009, 7:54 am 7:54 am
This is just another show by Obama. Obama will give the banks more taxpayers money. On April 15th we have to pay our taxes so that the money can go for more bailouts. It just makes me sick.
Posted by: CW | April 4, 2009, 8:17 am 8:17 am
我觉得中国的银行系统相对来说会好一点
Posted by: hanson | April 4, 2009, 8:17 am 8:17 am
Obama is in no position to tell anybody how to run business of any kind. I would not hire him to run a snow cone stand because HE KNOWS NOTHING. He is an inexperienced lawyer who has never had to make payroll, develop business or risk anything. He goes to europe and tell them that America is arrogant? He is arrogant and I personally am sick of the constant teleprompter speeches.
Posted by: brian | April 4, 2009, 8:30 am 8:30 am
Apparently the anti-Obama idiots like to congregate here.
Posted by: stuart2560 | April 4, 2009, 8:37 am 8:37 am
the comments here for the past two days are indicative of the malaise in our society.
Posted by: char;ene | April 4, 2009, 8:48 am 8:48 am
Washington’s idea of tough love — “Here’s a trillion dollars. Now, go.” Who still keeps an account with these giant bail-happy banks? Put your money in a responsible bank. Quit supporting these clowns.
Posted by: emily | April 4, 2009, 8:52 am 8:52 am
Apparently the anti-Obama idiots like to congregate here.
Posted by: stuart2560
**************************************
They’re just letting off steam, because their
previous leader Emperor Bush, did absolutely
nothing with the banking industry.
Posted by: spacerook1 | April 4, 2009, 9:01 am 9:01 am
How about, Washington’s idea of tough love (whether it’s Bush or Obama at the top) — “Here’s a trillion dollars. Now go outside and play with it. And, we don’t even want to know what you do with it.”
Posted by: Anne | April 4, 2009, 9:29 am 9:29 am
TxBob; and others, who are either too blind or too ignorant to realize the truth, you need to spend a few minutes absorbing the recent article by Simon Johnson, recently published in the Atlantic. Simon Johnson, a professor at MIT’s Sloan School of Management, was the chief economist at the International Monetary Fund during 2007 and 2008. He blogs about the financial crisis at baselinescenario.com, along with James Kwak, who also contributed to this essay. Without the volumes of print it would take to further elucidate the present financial crisis, this article lays it out in very clear terms. I know a few may go read and actually understand, while many remain ignorant of the facts, but it’s there for you to read and absorb, and it’s the plain and simple facts in a nutshell. Here’s the opening:
“The crash has laid bare many unpleasant truths about the United States. One of the most alarming, says a former chief economist of the International Monetary Fund, is that the finance industry has effectively captured our government—a state of affairs that more typically describes emerging markets, and is at the center of many emerging-market crises. If the IMF’s staff could speak freely about the U.S., it would tell us what it tells all countries in this situation: recovery will fail unless we break the financial oligarchy that is blocking essential reform. And if we are to prevent a true depression, we’re running out of time.”
Here’s the URL:
http://www.theatlantic.com/doc/200905/imf-advice
Posted by: devilkev | April 4, 2009, 9:32 am 9:32 am
How dare you compromise banking ‘industry’. They are the ones who produce wealth, knowledge for the economy. Our congress wisely thought so for 30 years and now Obama (at least on the face) going to ruin it.Go ahead bankers and put another 100k in your envelopes
Posted by: sena | April 4, 2009, 9:35 am 9:35 am
It is unfortunate we cannot let those banks fail, I would love to stick a pitchfork in them and call them DONE, but then -I am not resposible for all of you and the countrys economy, just myself..so i can march and protest against the banks themselves and still support what the president has to do…While the small thinkers here-continue to use their fingers to play in their food..is it no wonder..”the great minds of the bush presidency” are represented here????? LOL
Posted by: cowgirl | April 4, 2009, 12:10 pm 12:10 pm
Instead of blowharding on here..why don’t you move your bank accounts to smaller banks in your community or credit unions, which have done a great job of handling money over the years, know your name, and deal with you on a more personal level..we could kill off the big banks-by closing acounts–but then that would require some action instead of just talk…
Posted by: cowgirl | April 4, 2009, 12:15 pm 12:15 pm
I am in alignment with most of cowgirl’s thoughts/suggestions.
And frankly the whole thing makes me want to take a shower!
Posted by: Darryl the Contractor | April 4, 2009, 12:39 pm 12:39 pm
I voted Democrat because I love the fact that I can now marry whatever I want. I’ve decided to marry my horse……………I voted Democrat because I believe oil companies’ profits of 4% on a gallon of gas are obscene but the government taxing the same gallon of gas at 15% isn’t……………….I voted Democrat because I believe the government will do a better job of spending the money I earn than I would……………………I voted Democrat because freedom of speech is fine as long as nobody is offended by it……………….I voted Democrat because when we pull out of Iraq I trust that the bad guys will stop what they’re doing because they now think we’re good people……………..I voted Democrat because I’m way too irresponsible to own a gun, and I know that my local police are all I need to protect me from murderers and thieves………………….I voted Democrat because I believe that people who can’t tell us if it will rain on Friday can tell us that the polar ice caps will melt away in ten years if I don’t start driving a Prius…………………I voted Democrat because I’m not concerned about the slaughter of millions of babies so long as we keep all death row inmates alive………………..I voted Democrat because I believe that business should not be allowed to make profits for themselves. They need to break even and give the rest away to the government for redistribution as THEY see fit…………………….I voted Democrat because I believe liberal judges need to rewrite the Constitution every few days to suit some fringe kooks who would never get their agendas past the voters………………I voted Democrat because my head is so firmly planted up my a$$ that it is unlikely that I’ll ever have another point of view.
Posted by: CA Dem | April 4, 2009, 7:38 pm 7:38 pm
I love reading the comments on these pages now that the Republican party is so in the dumps that Newt Gingrich is warning of a third party. You Righties are all over the map, still rambling on about the same old tired arguments. If anyone needs to move on, it’s the Conservative movement, who are stuck in the 20th Century, still using racism and fear to frame virtually every major argument. GET OVER IT!
President Obama, I never get tired of saying that, is trying to save Capitalism from destroying itself. The Corporate status quo, Bush and the Republicans screwed things up so bad that the system is teetering on the brink of disaster.
Instead of crying the blues and blaming our President for destroying America in two months of office, Righties should try rebuilding the shattered remnants of their failing party, or just grin and bare it. You’ve become the Southern party of whiners with no ideas. Good luck with that!
Posted by: wise1@soapbloxdotcom | April 5, 2009, 7:10 pm 7:10 pm
Cowgirl, I did move my account to a smaller bank here in Texas and two years later is bought out by Compass. That screwed up my account and I started getting nickel and dimed to death.
When we took out a mortgage to buy a house, we were at a small regional bank. Bank of America bought it out. My next mortgage payment after that got credited to someone elses account–took three months to get them to recognize the fact that I had sent the payment in on time (copy of the canceled check and their endorsement) and five years to get it off my credit history.
$35 for an overdraft or return check, $32 to stop payment on a check,
$2 each time you use another bank’s ATM (you can’t use my bank’s ATM in Kansas, Missouri, New Mexico, etc. because they don’t happen to operate in those states even as big as it is nationally).
The “too big” banks need to cut up into smaller banks so that you don’t have to call Mississippi for one thing, Ohio for another, Texas for still another. Either that or require them to have central location in each state that can handle all your questions where you live. That might require them to restructure their salary scale for the top executives and pare down the bonuses–what probably would happen is raising the fees charged to customers.
Now that I’ve vented a bit, I don’t feel that much better over all, just a bit.
Posted by: George | April 6, 2009, 8:18 am 8:18 am
george, I feel your pain..if we all quit fighting over democracts vs republicans and put that energy into insisting the banks get drug around by their ears, instead of treated with kid gloves…we might get some real change done..small banks have done a great job and should be rewarded..I am not convinced we shouldn’t let them fail..but I am not sure the psycology of the american people could handle it..
Posted by: cowgirl | April 6, 2009, 11:50 am 11:50 am
Barack Obama is same a real Franklin Roosevelt and John F. Kennedy of best Democrat, and also good vice president turned into President of Harry Truman and Lynson Johnson. Same as Jimmy Carter was honestly good person, too. Yes, I like best Democrat that are better than a strink is Ronald Reagan, George Bush, George Bush, Jr as same a real Herbert Hoover of creulest mean Republican poeple.
Posted by: Ronald | April 6, 2009, 5:06 pm 5:06 pm
Cowgirl…
ahhh… what?
This Democrat vs. Republican is a sideshow to keep people from looking at things without bias. Instead those that are 100% Deomcrat or 100% Republican are neither, but truly instead thy are 100% fooled.
Folks, don’t be fooled read about our History. Read “The Creature from Jekyll Island” It is a researched book that will open your eyes to the fact that even your beloved OBama is in bed. He nothing but a puppet with control as his goal, same as Bush just much more in your face about it.
We are losing our freedoms, slowly, but we are. We need to get together as a common group of people with a common purpose. The keep America FREE, to keep our government SMALL and working for US, the PEOPLE. Not the people working for the government. What is happening right now is truly a disturbing power grab.
Posted by: Jakekub | April 6, 2009, 5:57 pm 5:57 pm
I guess a lot of you just sorta forgot that your hero Bush was the one that signed TARP, right?
Posted by: JaylahPriest | December 14, 2009, 4:40 pm 4:40 pm
The only reason Obama is standing between bankers and pitchforks is because he doesn’t want his wallstreet friends to get hurt.
Posted by: NickRCawkes | February 1, 2010, 8:17 pm 8:17 pm