Wednesday, February 10, 2010

Two-face would be more appropriate than Joker

All of a sudden, or rather after reports of Banks' PACs and executives switching their donations to the elephant after the donkey's teat turned sour, Obama comes out as a supporter of bonuses and a champion of capitalism, telling Democrats that "We’ve got to be the party of business, small business and large business.”
clipped from www.bloomberg.com
President Barack Obama speaking in an interview, said in response to a question that while [Dimon's bonus of] $17 million is “an extraordinary amount of money” for Main Street, “there are some baseball players who are making more than that and don’t get to the World Series either, so I’m shocked by that as well.”
Dimon, 53, led New York-based JPMorgan, the second-biggest U.S. bank, to a profit during each quarter of the financial crisis. Blankfein, 55, was at the helm when New York-based Goldman’s shares doubled last year as profit soared to a record high. [Sounds like they didn't just make the Series: Dimon won the Golden Glove, and Blankfein got the Cy Young trophy too.]

“I, like most of the American people, don’t begrudge people success or wealth. That is part of the free-market system.”
President Barack Obama called bank bonuses “obscene” at least twice this year.
Obama is “trying to walk a very fine line,” said Mark Borges, a compensation consultant “He wants to represent popular anger at the bailout and Wall Street pay, while at the same time trying not to alienate these guys, who he needs [to give him the "obscene" amounts of money that he relied on to win the 2008 election.]

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