Obama Denounces “Shameful” Wall Street Bonuses

VN:F [1.9.22_1171]
Rating: 0.0/10 (0 votes cast)

President Obama has criticized Wall Street following news financial executives received an estimated $18.4 billion in bonuses last year. The average payout amounted to $112,000.

President Obama: “When I saw an article today indicating that Wall Street bankers had given themselves $20 billion worth of bonuses, the same amount of bonuses as they gave themselves in 2004, at a time when most of these institutions were teetering on collapse and they are asking for taxpayers to help sustain them, and when taxpayers find themselves in the difficult position that if they don’t provide help, that the entire system could come down on top of our heads, that is the height of irresponsibility. It is shameful.”

Although bonuses declined from 2007, the $18.4 billion equaled the same amount paid in 2004.

I mean really, this shouldn’t be a shock at all!

VN:F [1.9.22_1171]
Rating: 0.0/10 (0 votes cast)

About CD