"I did not run for office to be helping out a bunch of fat cat bankers on Wall Street"

[bigtree]

In an interview with 60 Minutes' Steve Kroft to air tomorrow night, President Obama says Wall Street doesn't get it' . . .


"I did not run for office to be helping out a bunch of fat cat bankers on Wall Street," the president said.

Mr. Obama suggested that several companies who repaid their TARP funds did so to avoid the compensation caps being imposed by Pay Czar Ken Feinberg.

"I think that in some cases, it was the motivation," the president said, "which I think tells me that the people on Wall Street still don't get it…They're still puzzled why it is that people are mad at the banks. Well, let's see. You guys are drawing down 10, 20 million dollar bonuses after America went through the worst economic year…in decades and you guys caused the problem."

"What's really frustrating me right now is that you've got these same banks who benefited from taxpayer assistance who are fighting tooth and nail with their lobbyists …up on Capitol Hill, fighting against financial regulatory control," he said.


interview excerpts: http://www.cbsnews.com/stories/2009/12/09/60minutes/main5954261.shtml

[mainer]

1. Shouldn't the US have demanded a better rate on those loans?

If the banks are making so much money that they can hand out 10 million dollar bonuses, the folks who invested in those banks (you and me, courtesy of the US government) should be getting some of that profit. We were, after all, part owners of those banks. Why couldn't the fed have insisted on getting a share of the profits?

[L0oniX]

3. Let's do what they do ...send them a change in terms agreement notice and raise the interest rate...

to 29.9%.

[Blue_Tires]

34. i still say there should have been some strict conditions agreed to before giving out the cash

along with some proper re-regulation...

[Jim Sagle]

2. Psssstttt....he's lying.

[bigtree]

6. maybe

. . . an epiphany?

[Subdivisions]

7. You can dream...I call it PR. n/t

[Jim Sagle]

16. Yeah, they piph on us and tell us it's raining.

[bigtree]

18. that's pretty phany

[spanone]

8. i'll take him at his word.

[abelenkpe]

4. fat cat bankers

:)

I like that.

I hope congress gets it too.

[Deja Q]

28. I hope so too.

I want to be proud of this country again.

[ixion]

5. uh, then why do you spend most of your time doing just that?

:shrug:

[Kermitt Gribble]

9. +1

Sounds like this interview is nothing more than deflecting blame and responsibility.

Sorry, not much credibility left, IMO.

[JVS]

10. Walk the talk, Mr. President.

[coyote]

11. So why did make fat cat bankers part of his administration? n/t

[GreenPartyVoter]

12. People complain about me wanting a pony. What bout the faerie tales that are getting peddled by the

President? When will they call him on that?

[Deja Q]

27. One way or the other, you can't deny that this pony show has been fun to watch.

:popcorn:

[debbierlus]

13. Whatever. He has shown his cards.

[eleny]

14. You got in bed with them, Mr. President.

So now you're complaining that they f'd you?

[QC]

15. .

[Dr.Phool]

17. "I am not a crook". Richard M. Nixon.

Yeah, right.

:rofl: :popcorn: :rofl:

[JohnnyLib2]

19. Ouch. Dreadful memories.

Those of us who are old enough know full well that kind of massive disconnect and distrust CAN happen.

Are we that far alienated from this president? I don't want to think so at this point.


:scared:

[amborin]

20. the hypocrisy is as bad as the overt collusion with the big banks; such an insult

[inna]

24. Yeah, the brazen hypocrisy is just stunning.

After giving away literally TRILLIONS of public money to the banksters.

:grr:

Disgusting, absolutely disgusting.

[chimpymustgo]

21. Uh...yeah ya did.

[inna]

22. yep.

that much is clear at this point.

[Vidar]

23. That's as big a lie as his Nobel accptance speech.

[n2doc]

25. In truth- "I just hire them to do the dirty work while I look Presidential"

Given his track record, only the party loyalists are gonna swallow his statement.

[mitchum]

26. "...but then I changed ny mind after the election"

[Hannah Bell]

29. why was that the first thing he did, then? actions, not words.

[Greyhound]

30. And yet, that's who he has helped while the rest of us twist in the wind. n/t

[varelse]

31. It is good to see those words

and I think the fact that they were aired on a popular, prime time MSM show is more significant than some of the respondents to this thread realize.

[Deja Q]

33. I hope so.

The President really needs to hit the message home, regarding them.

[shadowknows69]

32. So stop frakkin helping them!

[Raine]

35. What you say and what you have done are not the same!

Show you meant what you said, be on the side of the people not the fat cats!!!!! :mad:

[GeorgeGist]

36. How phony can he get ?

[Le Taz Hot]

37. Which is why he appointed

Geintner & Sumners in the top financial positions. Please, tell me another one.

[LBJDemocrat]

38. Geithner? Rubin? Summers?

To his credit, he seems somewhat embarrassed by what he's doing.

[inna]

39. embarrassed how? what are the indications? just curious.

:shrug: