“President Barack Obama hammered Wall Street institutions Thursday for what he called ‘shameful’ bonuses, saying it is the ‘height of irresponsibility’ to ask for help from taxpayers and continue to reward executives with handsome pay packages.”
“‘There will be time for them to make profits, and there will be time for them to get bonuses. Now is not that time'”
You know, Lefties criticized GWB for acting without information. He had his worldview and no amount of fact would change that. Here’s (yet) another example of Obama acting exactly like a leftist GWB.
Despite the fact that the majority of bonus dollars go to brokers, traders, investment bankers and other line employees, not executives, Obama comes out and calls bonuses “shameful”.
Despite the fact that most Wall Street employees’ compensation packages are built around bonuses, as opposed to salary, Obama calls giving bonuses “the height of irresponsibility”.
Despite the fact that these firms already had agreements in place to pay bonuses based on performance long before the financial crisis, Obama wants these firms to reneg on their promises. Just because politicians do it doesn’t mean private companies have to.
Either he’s ignorant of the facts and chooses to speak anyway or he knows the facts and ignores them for political gain. Change, huh? This guy is nothing but a slick-talking GWB.
UPDATE: This article tells us that these “shameful” bonuses are down 44% from last year. Way to kick somebody when they’re down, Obama. By the way, how’s support for that bailout package going?