President Softens Language on Wall Street Bonuses He Once Called ‘Obscene’ and ‘Shameful’

As a person who believes in the free enterprise system and capitalism, I agree with Obamas recent statement.
That being said, this unpredictable behavior is the biggest problem with this man. He makes important statements based on POLLS ! His finger is always in the wind. HE HAS NO TRUE CONVICTIONS.
No one can predict his next statement, his next battle, his next snide remark…luckily, most of America and the world have stopped listening.
His words are empty, we can never rely on his words to fight for America, for the economy, for job growth, for security…It’s all based on the latest poll.
I for one, have had enough of his Drama.

Free market Bolshevism?

everything this president does is moronic hes a one termer hes better off being a community organizer or senator to bad it just didnt stop at senator oh i forgot he was just present on most of the votes forget it just community organizer.

Oh the times, they are a-changin’. Or maybe not. Here’s our raging populist, Barack Obama:
—President Barack Obama said he doesn’t “begrudge” the $17 million bonus awarded to JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon or the $9 million issued to Goldman Sachs Group Inc. CEO Lloyd Blankfein, noting that some athletes take home more pay.—(Bloomberg)
Does Obama also approve of the massive AIG bonuses that Senator Dodd protected in the Stimulus?? I suppose so, since Obama signed it into law and did not demand their repeal.

….and I certainly will not be voting for him again!

Maybe the money men who put Obama in the White House are tired of being villainized in front of the cameras, and hit up for donations in private.

No one did more to protect those bonuses than Barack Obama.

Obama refuses to act on the abuses of Corporate CEO compensation.
There is NO ONE, worth that kind of compensation, I don’t care who they are!
It is just another sign of Obama’s true weakness, that he does nothing to curb these excesses, which are destroying our country.

“Is it possible Obama is willing to look the other way because GS and JPM were large contributors to his campaign?”
Bingo! And Obama is surrounded by former GS people. This isn’t rocket science.

Seriously, this Wall Street/Government relationship reminds me of the Warner Brother’s Coyote/Sheepdog cartoon. Off the clock they’re best friends. When the whistle blows, they put on a show of beating the crud out of each other.

Slide a little money into this Obama culture of corruption and Wa La.. no more criticism

“I do think that the compensation packages that we’ve seen over the last decade at least have not matched up always to performance,” – Like the Senate, the House, the President, the vast majority of Federal and State employees.

Obama is trying to keep the stock market in better shape by placating the rich cats that can manipulate the market any time.

And so it starts…. Obama’s owners are saying “thanks for the trillions you gave us for being idiots” and telling him to back off financial reform. Other than his being more articulate, I hate to say it but a year into his presidency I don’t see much difference between his policies and those of the previous administration. How disappointing.

Hmmmm. California is deep in the red. U of California employees donate $1.6 million to Obama. A shame there’s nobody in Sacramento to connect those two dots.

After a year of being ignored the gay community threatened to withhold donations.
Amazingly Obama puts DADT as a priority in 2010–well he will review it for a year.
Wall Strett threatens switch donations to GOP and suddenly Obama thinks those bonuses aren’t so obscene anymore.
Obama has no principles.
He follows the money.

Anybody remember those arrogant prouncements from the Office of the President-Elect (OPE) between Novemeber and January? Might be fun to replay some of them in light of actual events over the past year.

Interesting update from JPT.

Obama has burned lots of bridges, and created lots of villains to take the heat off of his failure.
He’s going to need our money and lots of sweetheart deals to win them back.

O-Dumma says small businesses need bank loans to meet their payroll. His knowledge of businesses, big or small, is abysmal. Perhaps community organizers use bank loans to make their payroll – business men don’t. How could a Harvard lawyer be so stupid? – It must be the quota system is still in place.

Back in the day, I was only jealous of ‘banker’s hours’.. I should have looked at their wages.. as well!

“Dimon is a Democratic contributor whom, the Wall Street Journal reported last week, is being wooed by Republicans, who are questioning why Wall Street executives give money to Democrats rather than to the Republicans who are trying to block President Obama’s push to enact financial regulatory reforms.”
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Why is this not surprising? The Republicans backing Wall Street and Wall Street executives and trying to woo them with promises of ‘you’ll get to be richer’. The Rich First. Country Second.

White House press secretary Robert Gibbs denied that President Obama had changed his tone at all, pointing out that the president has said “countless times” that he doesn’t begrudge wealth or success.
October 2008 in Holland, OH, Joe “The Plumber” asked Obama about his tax plan. Obama’s response: “I think when you spread the wealth around, it’s good for everybody.” Was that one of those “countless times” Mr. Gibbs?

This article is like a bowl of dog food, and all the puppies have come to take part! “The Establishment” as it was called in the 60′s and 70′s is just that…an establishment. Now, after only a year, the first Black President in American history supposed to just break down the Establishment? Get real Obama haters!

You not only don’t no where this guy comes from, you can’t believe anything he says…I can’t believe he seems to get away with it!

Uh oh. Paul Krugman at the NYT sez:
—The point is that these bank executives are not free agents who are earning big bucks in fair competition; they run companies that are essentially wards of the state. There’s good reason to feel outraged at the growing appearance that we’re running a system of lemon socialism, in which losses are public but gains are private. And at the very least, you would think that Obama would understand the importance of acknowledging public anger over what’s happening.
But no. If the Bloomberg story is to be believed, Obama thinks his key to electoral success is to trumpet “the influence corporate leaders have had on his economic policies.”
We’re doomed.–

Once again Obama was for it, before he was against it, before he was for it, before he was against it.

Obama has proven one thing to all Americans when he opens his mouth he is lying or distorting the truth. Obama can not be trusted and he is no better than worst politician. We were all fooled, but no more.
Obama either puts up or shuts up as far as I am concern

We have elected nothing more than an inexperienced petty politician. He did promise transparency…yes his BS is becoming really transparent.
Posted by: tyban | Feb 10, 2010 7:34:47 PM
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Republicans make no claims they will be ‘transparent’ in government. Never have.
If they get voted in, its’ back to all the doors being closed . . . back to the secret neo-con agendas, back to the lies that kill tens of thousands of people . . .
Obama’s transparency and booting out of lobbyists may not be perfect but its is many, many steps in the right direction.
The Republicans have promised – and will deliver – nothing.

Jake-so the Obami insist you change the headline and you obey-nice to know you’re “objective”.

Exactly what lobbyists did Obama get rid of? Names please!
Posted by: Dominique | Feb 10, 2010 7:43:14 PM
_________________________________
As early as 2004, with 4 more years left in his regime, Bush had already appointed . . .
“more than 100 high-level officials . . . who helped govern industries they once represented as lobbyists, lawyers or company advocates, a Denver Post analysis shows.”
Denver Post
May 23, 2004
The current President made exceptions for a small handful of people . . .. again a HUGE improvement.
The Republicans would be back to business as usual – buy your way into the government.

Here are former lobbyists Obama has tapped for top jobs:
•Eric Holder, attorney general nominee, was registered to lobby until 2004 on behalf of clients including Global Crossing, a bankrupt telecommunications firm [now confirmed].
•Tom Vilsack, secretary of agriculture nominee, was registered to lobby as recently as last year on behalf of the National Education Association.
•William Lynn, deputy defense secretary nominee, was registered to lobby as recently as last year for defense contractor Raytheon, where he was a top executive.
•William Corr, deputy health and human services secretary nominee, was registered to lobby until last year for the Campaign for Tobacco-Free Kids, a non-profit that pushes to limit tobacco use.
•David Hayes, deputy interior secretary nominee, was registered to lobby until 2006 for clients, including the regional utility San Diego Gas & Electric.
•Mark Patterson, chief of staff to Treasury Secretary Timothy Geithner, was registered to lobby as recently as last year for financial giant Goldman Sachs.
•Ron Klain, chief of staff to Vice President Joe Biden, was registered to lobby until 2005 for clients, including the Coalition for Asbestos Resolution, U.S. Airways, Airborne Express and drug-maker ImClone.
•Mona Sutphen, deputy White House chief of staff, was registered to lobby for clients, including Angliss International in 2003.
•Melody Barnes, domestic policy council director, lobbied in 2003 and 2004 for liberal advocacy groups, including the American Civil Liberties Union, the Leadership Conference on Civil Rights, the American Constitution Society and the Center for Reproductive Rights.
•Cecilia Munoz, White House director of intergovernmental affairs, was a lobbyist as recently as last year for the National Council of La Raza, a Hispanic advocacy group.
•Patrick Gaspard, White House political affairs director, was a lobbyist for the Service Employees International Union.
•Michael Strautmanis, chief of staff to the president’s assistant for intergovernmental relations, lobbied for the American Association of Justice from 2001 until 2005.

Posted by: Dominique | Feb 10, 2010 10:38:03 PM
I don’t see over a hundred names there like during Bush’s early years.
And if you’ll recall the limit the President set was no individuals who had lobbied during the previous two years – (and no one is to lobby for at least two years after their term in government). AND – the limitations apply if the lobbying is to be in the same field as the govenment position.
So if we eliminate those we are left with a pretty short list – based on YOUR information.
•William Lynn, deputy defense secretary nominee, was registered to lobby as recently as last year for defense contractor Raytheon, where he was a top executive.
•William Corr, deputy health and human services secretary nominee, was registered to lobby until last year for the Campaign for Tobacco-Free Kids, a non-profit that pushes to limit tobacco use.
•Mark Patterson, chief of staff to Treasury Secretary Timothy Geithner, was registered to lobby as recently as last year for financial giant Goldman Sachs.
•Cecilia Munoz, White House director of intergovernmental affairs, was a lobbyist as recently as last year for the National Council of La Raza, a Hispanic advocacy group.
A vast, vast improvement from Bush’s OVER 100 lobbyists.

Tierra: You’re the one arguing Obama doesn’t have lobbyist in his administration. Obama said he wouldn’t have lobbyists in his administration. Just pointing out his continual lies. The list was just inclusive of his first few days in OFFICE and those that received top positions in the administration:-) Much love.

I also changed the headline after the White House vociferously insisted that the president was not referring to the bonuses when he said he didn’t “begrudge” wealth or success — though his reaction to the bonuses was the question directly posed to him and the title of the original Bloomberg/Business Week story was “Obama Doesn’t ‘Begrudge’ Bonuses for ‘Savvy’ Blankfein, Dimon.”
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Thanks for confirming the WH runs the press at ABC. What other “things” have you not reported on because the White House vociferously insists? Are you ever going to cover Fannie Mae and Freddie Mac’s bonuses?

How come it is never reported that not all of the bankers getting compensation had anything AT ALL to do with the financial crisis?? There ARE many bankers who are helping Fortune 500 companies stay healthy. THAT is why they are paid the big bucks for THIS work is done right. SOMEONE PLEASE REPORT *ALL* THE FACTS.