Obama’s Wall Street Plea

Was it irresponsible for Wall Street to hand out 18.4 billion in bonus for the year to its workers? President Obama is calling this “Shameful”. The president gather with his economic team including Vice President Biden and Treasury Secretary Timothy Geithner and spoke about how
Wall Street could have shown more discipline and responsibility with their actions. For the employees to be paid more than 18 billion in bonuses last year while their financial sector was recieving a bailout from taxpayers and some bankers took home millions last year even as their employers lost billions! Shameful isn’t it? The state comptroller Thomas P. DiNapoli said it was uncertain if banks had used tax money for the bonuses, a possibility that strikes corporate governance experts, and indeed many ordinary Americans as outrageous. Obama administration will examine the issue closely.