Obama Applies Pressure of Shame to Wall Street Banks
Beating on Wall Street makes political sense these days. The public is furious that big banks and Wall Street firms are once again making pots of money while Main Street suffers through 10% unemployment. With year-end bonuses soon to be handed out to financial executives, Obama and the White House need to be seen to be on the side of the little guy.
So expect a healthy dose of political posturing before, during and after the President's meeting with top bankers Monday. "It's a p.r. stunt," says an executive at one of the banks that will be getting a dressing-down at the White House meeting. Executives from Goldman Sachs, JPMorgan Chase, Bank of America and Wells Fargo are expected to be among those in attendance. (See 25 people to blame for the financial crisis.)
Even Administration officials privately admit that politics played a role in calling the meeting, and President Obama's harsh words for bankers on Sunday's 60 Minutes program reinforced the notion. During an interview on the CBS show the President said he didn't run for office "to be helping out a bunch of fat-cat bankers on Wall Street," adding that "people on Wall Street still don't get it."
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http://news.yahoo.com/s/time/20091214/us_time/08599194741100
OBAMA asked for another stimulus plan
on Thursday. So here he goes again giving billions to the Banks and nothing for the people.
I don't believe it is a PR stunt.
The legislation being passed proves it to be far more than a PR stunt. But even more importantly, these are the final days of gluttony and greed on Wall Street - and the big dogs and fat cats have much more than this
to worry about in the grander scheme of things.
*****
"A small body of determined spirits fired by an unquenchable faith in their mission can alter the course of history."
~ Mohandas Gandhi
. @ @ . Power to the People!
@ O @ -----> PEOPLE
. @ @ . NOT Corporate Entities!