The Presidential Planner
EmailFrom Sunlen Miller
This morning, President Obama plans to meet with leaders from the financial services community at the White House.
“He's going to have a serious talk with the bankers," National Economic Council director Larry Summers told George Stephanopoulos on "This Week" Sunday morning. "The country did incredible things for the banking industry. Those things had to be done to save the economy, but no major bank would be intact, in a position to pay bonuses, if that extraordinary support had not been provided. The bankers need to recognize that. They need to recognize that they've got obligations to the country after all that's been done for them."
Summers said: "President Obama is going to be talking with them about what they can do to support enhanced lending to customers across the country. We were there for them. And the banks need to do everything they can to be sure they're there for customers across this country.”
ABC’s Jake Tapper reports that primarily the two areas where President Obama will encourage the bankers to be more active are to give more loans to small businesses and to allow more refinancing and restructuring of mortgages for homeowners. The president will also express irritation, officials say, with the lavish bonuses these executives are paying themselves this year.
After his meeting, Obama will make a statement to the press in the Diplomatic Room.
In the afternoon, the president is scheduled to meet with President Michel Sleiman of Lebanon in the Oval Office.
“The president looks forward to consulting with President Sleiman on a broad range of issues of mutual concern,” White House press secretary Robert Gibbs said of the visit today, “including efforts to strengthen the bilateral relationship between the United States and Lebanon, achieve a comprehensive regional peace and implement relevant UN Security Council resolutions.”
Afterward, Mr. Obama has a one-on-one meeting scheduled with Sen. Bob Casey, D-Pa., in the Oval Office.
– Sunlen Miller
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I’m certain Barack will say to the bankers, with regards to the economy, “The buck stops here.”
hahhahahahha.
Don’t forget to donate to Toys for Tots if you are able. It is a great charity.
Posted by: The Audacity of Copenhagen | December 14, 2009, 9:34 am 9:34 am
Obama is in a freefall, his popularity imploding. I think he’s in a panic and will try anything to save himself.
I don’t think Americans are as naive as they were the last time Obama feigned fake outrage at Wall Street.
His pnony blame game is no longer working. Most see Obama and the FatCats as partners each scratching the others’ backs.
Obama took millions in donations from Wall Street and in return he let them rake in billions with little regulation.
Corporate welfare.
Posted by: larry | December 14, 2009, 10:37 am 10:37 am
Obama says the banks are part of the problem.
What small business is going to hire knowing new taxes and fees are coming from ObamaCare and Cap/Trade?
I’d say he’s a bigger part of the problem.
Who can trust the economy with Obama’s reckless spending and massive debts that are still growing?
Posted by: mick | December 14, 2009, 10:42 am 10:42 am
We bail out Wall St. and then they hold back lending to Main St. opting to take care of themselves first. Just another classic example that big business cannot be trusted to operate in the public’s best interests.
Posted by: Skip | December 14, 2009, 11:03 am 11:03 am
In an exchange on the Senate floor, Republican Sen. John McCain asked Durbin, “Should we not at least be informed as to what the proposal is that the Senate Majority Leader is going to propose to the entire Senate?” Durbin’s answer: “I would say to the senator from Arizona that I am in the dark almost as much as he is, and I am in the leadership.” Durbin explained that during a Democratic caucus, Reid and the small group of senators involved in crafting the bill turned to their fellow Democrats and “basically stood and said, ‘We are sorry, we can’t tell you in detail what was involved.’”
“Isn’t that a very unusual process?” asked McCain, noting that “we are discussing one-sixth of the gross national product; the bill before us has been a product of almost a year of sausage-making. Yet here we are at a position on December 12, with a proposal that none of us, except, I understand, one person, the Majority Leader, knows what the final parameters are, much less informing the American people. I don’t get it.”
Posted by: Live! From DC! It's Sat Night! | December 14, 2009, 1:02 pm 1:02 pm
“We bail out Wall St. and then they hold back lending to Main St. opting to take care of themselves first. Just another classic example that big business cannot be trusted to operate in the public’s best interests.”
It’s EXACTLY what Obama and his cronies want you to believe…Bad loans are what started this crisis…Are you familiar with the Community Reinvestment Act?
Posted by: tjp612 | December 14, 2009, 1:47 pm 1:47 pm
“Bad loans are what started this crisis…Are you familiar with the Community Reinvestment Act?”
Yes bad loans were a big part of the problem but that has little to do with the CRA. Now a question for you: What percentage of the value of the housing bubble can be directly attributable to the CRA?
Posted by: Skip | December 14, 2009, 2:01 pm 2:01 pm
Just heard a clip from Mr. Obama on the radio. He gives himself a “B+” for his job of president, so far. He said if he gets Health Care, he will move himself up to “A-”. Such humility in greatness is heartwarming to behold!
Posted by: Terry | December 14, 2009, 2:23 pm 2:23 pm