Posted on 12/14/2009 9:55:38 AM PST by SeekAndFind
President Obama is calling on the financial industry to help dig the economy out of the pit the White House says it helped create, as the president and bank executives headed into a potentially tense meeting Monday morning.
President Obama is calling on the financial industry to help dig the economy out of the pit the White House says it helped create, as the president and bank executives headed into a potentially tense meeting Monday morning.
The president set the tone for the meeting in an interview broadcast the night before in which he called Wall Street bankers "fat cats" whom he has little obligation to help. In response, the bankers plan to tell the president to stop oversimplifying their concerns.
But the president is expected to argue that because Wall Street has already received significant aid from the federal government via the $700 billion bailout package passed last year, it in turn has an obligation to help jump-start the rest of the economy -- by boosting lending to small businesses and getting on board with a sweeping financial regulatory reform package.
"What the president's going to say to the bankers is, you guys were part of the problem, you helped create an economic crisis here that cost 7 million Americans their jobs and now you have to be part of the solution," White House senior adviser David Axelrod said on ABC's "Good Morning America."
Axelrod said the industry has to "accelerate lending to credible small businesses" and suggested Congress would take harsh action against the sector if it does not.
"People are not going to tolerate a situation where the bankers have a party, they pick up the tab and then the bankers pay themselves huge bonuses and they're not lending," Axelrod said,
(Excerpt) Read more at foxnews.com ...
Does Obama really want another failure like Fannie Mae & Freddie Mac or is he so stupid he doesn't understand? Or, maybe he needs another scapegoat to blame for all his failures!
Someone should really tell this arrogant jerk to take a flying leap! He is not a damn dictator (at least not yet)!
sound and fury and ineffectual posturing from a lame duck
Simply brilliant, Barry-o.
The list, ping
Methinks if he pushes this maxim, all TARP funds will be repaid in the next 30 days. The banks know full well what cratered their business: Government diktats. They certainly do not want to repeat the same mistake again. The funny thing would be the only banks forced to follow this BS would be the ones that cannot repay their TARP; think Citibank.
Give away more money to more people who won’t pay you back so that you go bankrupt and I can blame you then take you over........Alinsky’s Rules plus Cloward-Piven plan in action..........
Barry’s brilliant scheme to destroy this country is being carried out. Imagine what AmeriKa will look like in 37 months.
......Or else what?.....
A second thought on this thread.
Sometimes I go out in my front yard and my neighbor’s minimini pseudo dog comes off the porch to yip yip yip at me. It knows what to do but lacks the size to do any thing.
The marxist lapdog is the same
These bankers have got to get over the idea of operating at a profit and emulate the government. It’ll work as long as the treasury keeps them ‘bama bucks coming off the press. /sarc
Guess who Barry wants all those loans made to....The same ones Barney Frank gave them to!...
I would just love to be in the room if one of the bankers leaned over the table and snarled “who the @*%$ are YOU calling fat cats, Mr. One Termer?”
On the other hand, I’d really like to know who the “fat cats” voted for last november.
I hope one of the bankers says ObaMugabe tried to intimidate him.
After all, America isn’t Zimbabwe, yet
I hope one of the bankers says ObaMugabe tried to intimidate him.
After all, America isn’t Zimbabwe, yet
I’m not sure he realizes that a lot of small businesses have cut back and loans aren’t the problem...
Can they give us some numbers on how many people have been turned down....If I were a bank and you gave me money, I would have bought and sold gold....and taken a big commish.
Just envision a geometry student trying to perform advanced calculus, and you’ll understand all you need to know about 0’s ‘great mental agility’.
Just envision a geometry student trying to perform advanced calculus, and you’ll understand all you need to know about 0’s ‘great mental agility’.
He’s looking for someone to demonize so the heat comes off of his pathetic poll numbers.
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