President Obama says Wall Street was “shameful” in paying out $18 billion in executive bonuses last year as the economy was tanking, the AP is reporting.
“That is the height of irresponsibility. It is shameful,” Obama said, adding that he and Treasury Secretary Timothy Geithner will tell corporate leaders that directly.
Obama said there is a time for executives to get bonuses but now is “not that time.”
Au contraire, mon frere. Now is ALWAYS the time to get bonuses, executives say.
Technically, for one to be “shameful” — i.e., “full of shame” — one must have a measure of shame to begin with. And you’re not likely to find much of THAT on Wall Street.
Obama must remember that these companies are in the business of taking, er, um, MAKING money.
Wow, $18 BILLION in bonuses! Those executives must have done a LOT of good stuff last year!
How much of the federal bailout funds was used to pay Wall Street’s $18 billion in bonuses? Because those executives who got those bonuses should be required to stimulate the economy. Now! I claim first dibs!