“Jan. 29 (Bloomberg) — President Barack Obama fed a swelling populist revolt against Wall Street bonuses, calling it “shameful†that banks doled out $18.4 billion as taxpayers bail out companies and the U.S. remains mired in a recession.
The bonuses are “the height of irresponsibility,†Obama said today before meeting Treasury Secretary Timothy Geithner and Vice President Joe Biden at the White House. Firms need to “show some restraint and show some discipline,†Obama said.”
goes to show how little people know about wall street and more upsetting how little our president knows. using such language shows what a f’ing moron this guy is. for him to be so stupid that he generalizes “wall street” and does so in a public way that might possibly affect the way non “wall street” people think is sad. truth be told, very few of the thousands of people i know that work on wall street, or midtown, or connecticut, or florida, or buffalo or where the f ever, very few of them have anything at all to do with the alleged causes of the financial crisis but more to do with the reason why it is not nearly as bad as it would have been without their existence. most of the people i know and deal with help facilitate the investment of peoples savings into retirement funds and education funds with the buying and selling of securities. this is done because people have a strong and resilient demand for these services. imagine if there was no wall street.. imagine if none of the people who work on wall street got bonuses, which are more than often the bulk of their income… imagine if the people who are really responsible for this mess, the ones who borrowed beyond their means, were unable to buy the houses and cars they couldnt afford.. what a mess we have on our hands and what a shame the president of the USA has no clue as too who is to blame or how to handle it. shame on obama! not shame on wall street. there are tens of thousands of wall street employees who have lost their jobs in the last year. add to that the tens of thousands who kept their jobs for less pay. these people are NOT the media friendly millionaires but rather people who happen to be employed by “wall street” firms. these are accountants, lawyers, couriers, electricians, plumbers, engineers, programmers, quants, college recruiters, human resources, charitable trusts etc. the president doesnt seem to be airing out his problems with govt pensions and contracts the same way. he doesnt seem to be finding fault with the lifetime benefits so many govt employees receive…. these kind of benefits are quite rare on wall street. i wish i was a 45 year old cop, teacher, officer, postal carrier, politician etc who could retire with lifetime benefits and work a job as a bartender somewhere. nope, instead i’ll be a “Wall streeter” with a mortgage, five kids, five tuitions, no pension, no lifetime benefits, no tax relief because for some f’ng reason i dont qualify, no shit! so my president doesnt have a clue where to point the finger. not a clue, and i am flipping mad about it!
