Obama spanks Wall Street.

[classicman]

ok, then take them all out. Fuck it.

[TGRR]

Originally Posted by classicman

ok, then take them all out. Fuck it.

Wait. So you are only for tax cuts to the rich?

[classicman]

HA HA HA HA I knew I could count on you! where ya been all day?

[TGRR]

Originally Posted by classicman

HA HA HA HA I knew I could count on you! where ya been all day?

Work. Apparently I don't get paid if I don't go.

TGRR,
That's the MAN trying to KEEP ME DOWN!

[classicman]

Barack Obama, US president, on Wednesday said he “did not begrudge” the multi-million dollar bonuses given out to Lloyd Blankfein of Goldman Sachs and Jamie Dimon of JPMorgan Chase and added that their large pay-outs were a consequence of America’s “free market system”.

Mr Obama’s comments, in an interview with Bloomberg BusinessWeek, are likely to attract further controversy at a time when public anger over the Wall Street bonuses is increasingly being directed at Washington. They were also on Wednesday contrasted with Mr Obama’s recent criticisms of the “obscene” bonuses paid out on Wall Street as evidence that the White House was unable to sustain a clear message on the subject.

Link

Well which is it? After blasting these guys for so long, In March 2009 it was "Bonuses are violation of "our fundamental values" now suddenly its "That is part of the free-market system.” WTH? Which is it?

[xoxoxoBruce]

It's both. It's the way the free market system works, and an example of the more-for-me-fuck-you-and-the-country mentality of wall street.

What do you want him to do? If he bad mouths the system, then the republicans/tea baggers scream socialism. If he doesn't, they scream duplicity. Remember it's congress that has to fix this shit.

[TheMercenary]

Originally Posted by xoxoxoBruce

Remember it's congress that has to fix this shit.

Exactly. In fact I would be a much bigger supporter of Obama if the Congress wasn't so screwed up.

[TheMercenary]

Originally Posted by classicman

Link

Well which is it? After blasting these guys for so long, In March 2009 it was "Bonuses are violation of "our fundamental values" now suddenly its "That is part of the free-market system.” WTH? Which is it?

That is because his admin is filled with GS lackey's. Why would he screw his own appointee's?

[tw]

Originally Posted by TheMercenary

That is because his admin is filled with GS lackey's.

So why are those GS lackey's so viciously attacking GS's bonuses and other questionable activities. Oh. That is what GS wants its lackey's to do.

[Yznhymr]

Obama can't spank his own monkey without bragging about it.

[Lamplighter]

There is probably a better thread for this, but...

There have been many Dwellar complaints over the fact that no bank executives
have been held personally accountable for the financial crisis starting back in 2008.

The following article seems to me to hold out some hope, after all.

How to Punish Corporate Fraudsters
NY Times - ERIC R. HAVIANOCT. 22, 2015

<snip>Few outside the legal community are familiar with the concept of “exclusion,”
which permits many federal agencies — including the Securities and Exchange Commission,
the Federal Deposit Insurance Corporation and the Department of Health and Human Services
— to temporarily or permanently block corporations that violate their rules from doing business with them.
Importantly, it can also be applied to individual corporate officers, such as chief executives
and lower-level executives, and is especially effective in the finance and health care industries.

Since most big banks are federally insured, and many large health care companies do business
with Medicare or Medicaid, barring an executive from that work can be a professional death sentence.

For example, the F.D.I.C. can bar someone for life from any federally insured bank
by demonstrating in an administrative hearing that the person violated federal banking regulations
or failed to correct any “unsafe or unsound practice.”

To exclude a health care executive from federal health programs,
the Department of Health and Human Services can also conduct an administrative hearing
to show that the executive engaged in fraud. And the S.E.C. can bar a financial services executive
by filing a civil case in federal court, showing that the person is unfit “to serve as an officer or director”
of a public company and proving that the executive knew about or recklessly ignored the improper activity.

Others have also been barred from any federally regulated bank over the past 15 years,
including the former C.E.O. of the now-defunct American Sterling Bank
and an executive of Louisiana’s First Guaranty Bank.
In addition, the Bear Stearns executives who were acquitted of criminal charges after the financial crisis
were later barred from the securities industry for several years.
<snip>

[BigV]

Yes, that does sound hopeful. But I am skeptical that the tool will be used.

[Lamplighter]

Well, it's probably too late for the 2008 economic crisis.

But for the serious fight that is coming on Medicare cost reductions,
it might carry some weight (after the fact), or even as a
preventative measure that would get the attention of CFO's, etc.

.

[xoxoxoBruce]

I'm pessimistic. For show they might throw a token or two who are ready to retire and have the golden parachute in their pocket, under the bus. But I'd be surprised at even that because it would affect the company's stock, and even if that was temporary stockholders would be ragging on their congress critters.

[classicman]

Yup ... 7 YEARS later they are going to effectively blackball their financial friends and biggest political supporters ... Are you high?