My administration is the only thing between you and the pitchforks.

[johnny861]

Damn straight... whether it's the right thing or not, the mob is a dangerous thing.

Either address and convince the mob with a compelling argument or just let those bonuses go for now.

(or give back the money you borrowed and then let's have the government use that money in a more productive way... maybe as a credit to institutions when they lend, shit... or something that seems more effective.. no more blank check shit)

http://www.politico.com/news/stories/0409/20871.html

Inside Obama's bank CEOs meeting

The bankers struggled to make themselves clear to the president of the United States.

Arrayed around a long mahogany table in the White House state dining room last week, the CEOs of the most powerful financial institutions in the world offered several explanations for paying high salaries to their employees — and, by extension, to themselves.

“These are complicated companies,” one CEO said. Offered another: “We’re competing for talent on an international market.”

But President Barack Obama wasn’t in a mood to hear them out. He stopped the conversation and offered a blunt reminder of the public’s reaction to such explanations. “Be careful how you make those statements, gentlemen. The public isn’t buying that.”

“My administration,” the president added, “is the only thing between you and the pitchforks.”

The fresh details of the meeting — some never before revealed — come from an account provided to POLITICO by one of the participants. A second source inside the meeting confirmed the details, and two other sources familiar with the meeting offered additional information.

The accounts demonstrate that despite the public comments on both sides that the meeting was cordial, the tone in the room was in fact one of mutual wariness. The titans of finance — men used to being the most powerful man in almost any room — sized up a new president who made clear in ways big and small that he expected them to change their ways.

There were signs from the outset that this was a business event, not a social gathering. At each place around the table sat a single glass of water. No ice. For those who finished their glass, no refills were offered. There was no group photograph taken of the CEOs with the president, which typically happens at ceremonial White House gatherings but not at serious strategy sessions.

“The only way they could have sent a more Spartan message is if they had served bread along with the water,” says a person who attended the meeting. “The signal from Obama’s body language and demeanor was, ‘I’m the president, and you’re not.’”

According to the accounts of sources inside the room, President Obama told the CEOs exactly what he expects from them, and pushed back forcefully when they attempted to defend Wall Street’s legendarily high-paying ways.

[Keith P]

Fucking right.

[vinnie97]

That's a good talk but Obama adviser paid millions as hedge fund director and Fannie, Freddie worker bonuses total $210M.

[vinnie97]

More proof of the idiocy of Frank, Waters, Raines and Clinton and co. back in 2004:

Shocking Video Unearthed Democrats in their own words Covering up the Fanni

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Hmm, I keep hearing it was all the Republicans' fault. Clearly, they should've raised much more of a fuss when they had the political capital to do so. Now they are merely at the whim of the Dems who can run roughshod over them and rewrite history while the Obamabots drink it up.

I wish I had my own island sometimes...the daily deception and obfuscation are enough to make me hurl.

[vinnie97]

My road to discovery continues. If more only knew what was happening under their noses:

http://hotair.com/archives/2008/09/1...e-mac-in-2005/ - the killing of the Federal Housing Enterprise Regulatory Reform Act, which might have staved off our current disaster had the Dems not killed it. Obama didn't seem to care about this bill when it was introduced...

"The Office of Federal Housing Enterprise Oversight’s report goes on to say that Fannie Mae employees deliberately and intentionally manipulated financial reports to hit earnings targets in order to trigger bonuses for senior executives. In the case of Franklin Raines, Fannie Mae’s former chief executive officer, OFHEO’s report shows that over half of Mr. Raines’ compensation for the 6 years through 2003 was directly tied to meeting earnings targets. The report of financial misconduct at Fannie Mae echoes the deeply troubling $5 billion profit restatement at Freddie Mac."

The facilitators need to be charged with fraud.

McCain in 2005: "For years I have been concerned about the regulatory structure that governs Fannie Mae and Freddie Mac–known as Government-sponsored entities or GSEs–and the sheer magnitude of these companies and the role they play in the housing market. OFHEO’s report this week does nothing to ease these concerns. In fact, the report does quite the contrary. OFHEO’s report solidifies my view that the GSEs need to be reformed without delay."

Obama was only happy to become the second biggest recipient EVER of campaign money from these individuals and then Obama had the gall just last year to blame McCain for it all again:

“Despite his eleventh hour conversion to the language of reform, Senator McCain has subscribed to this philosophy for twenty-six years in Washington and the events of this week have rendered it a colossal failure. It is time for a new economic strategy, guided by the principle that America prospers when all Americans prosper, where common-sense rules of the road ensure that competition is fair, open, and honest. That is the strategy I will pursue as President, and I will bring the change we need to restore confidence in our financial markets and strength to our economy,” said Barack Obama."

What a fraud. Obama can keep his change and stop taking mine to feed these voracious zombified companies.

[johnny861]

Originally Posted by vinnie97

That's a good talk but Obama adviser paid millions as hedge fund director and Fannie, Freddie worker bonuses total $210M.

True, a lot of people have had their hands in this mess.