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Now Obama Likes Big Bank Bonuses

There is no other way to put it. Barack Obama is carpet bombing his own presidency.

Here's what he said to Bloomberg about the bonuses paid to "Too Big To Fail" bank CEO's Jamie Dimon and Lloyd Blankfein:


President Barack Obama said he doesn't "begrudge" the $17 million bonus awarded to JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon or the $9 million issued to Goldman Sachs Group Inc. CEO Lloyd Blankfein, noting that some athletes take home more pay.

The president, speaking in an interview, said in response to a question that while $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."

"I know both those guys; they are very savvy businessmen," Obama said in the interview yesterday in the Oval Office with Bloomberg BusinessWeek, which will appear on newsstands Friday. "I, like most of the American people, don't begrudge people success or wealth. That is part of the free- market system."

Here's Paul Krugman's take on that bit of brilliance:

Oh. My. God.

First of all, to my knowledge, irresponsible behavior by baseball players hasn't brought the world economy to the brink of collapse and cost millions of innocent Americans their jobs and/or houses.

....But no. If the Bloomberg story is to be believed, Obama thinks his key to electoral success is to trumpet "the influence corporate leaders have had on his economic policies."

We're doomed.

Other liberals are threatening seppuku by Palin. Can this president not see his entire base falling out from under him? Is there not someone in the White House that might say "Uh, Mr. President, now might not be a good time to sing the praises of banker bonuses. There's still an angry mob out in the hallway shouting something about the public option and trying terrorists in U S courts."? As was suspected after the Massachusetts election, we may indeed be watching a rudderless ship run aground.

Or better yet, maybe this will become his potatoe moment in history.


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Comments (30)

I think he honestly believe... (Below threshold)
JLawson:

I think he honestly believes everything he says.

He's just having problems these days remembering what he's said to who and when.

Well, maybe he figures thes... (Below threshold)
DaveD:

Well, maybe he figures these guys are a safe haven for these funds and he figures he can tax it back from them when his social programs get enacted.

Instead of the potatoe mome... (Below threshold)
Stan25:

Instead of the potatoe moment, it could very well be the largest jump the shark moment in the history of the political saga of this country. This gaffe could very well cost 0 the Presidency in 2012. You can bet that the bloggers will pick this one and spread it far and wide. This also might be the Obamateurism of the year. It will certainly be the one for the month.

Stan25Note taken. ... (Below threshold)
HughS:

Stan25

Note taken. "Jump the shark" is a much better description. Wish I'd thought of that!

"Can this president not ... (Below threshold)
Steve Green:

"Can this president not see his entire base falling out from under him?"

You don't speak for Obama's base. Don't even try. Just because you don't have a candidate don't hijack ours...lol.

His approval rating is holding steady and his disapproval rating is plummeting.gallup.com/poll/113980/Gallup-Daily-Obama-Job-Approval.aspx

The spudhead in chief divie... (Below threshold)
914:

The spudhead in chief divied out our cash to wall$treet hoping to get kickbacks.

All He is going to get however, is kicked out of office.

Obama is toast! It will be ... (Below threshold)
WildWillie:

Obama is toast! It will be so easy to have a commercial of Obama saying one thing and another of his saying the opposite. OOdles of fun. ww

This is another example of ... (Below threshold)
Hank:

This is another example of why I think Obama's intellect (or lack thereof) is way over-rated.

Sure, the man talks a lot and mistakes will happen. But absent any true core beliefs, answers will inevitably vary each time a question is posed.

And I'd wager the teleprompter was not used.

"His approval rating is hol... (Below threshold)
GarandFan:

"His approval rating is holding steady and his disapproval rating is plummeting."

Kool Aid Stevie to the rescue!

Come on Stevie, level with us. Your Obamassiah is now kissing the asses of the same people he's been vilifying for the last year. What's up? Not getting those Wall Street political donations?

Barry's policy ratings are in the toilet. The only reason his "personal" rating is so high is because of the 'white guilt' trip. Too many don't want to pull the trigger and say they disapprove of him. Guess he gets to lie a little longer before more people get fed up with his "promises" that have expiration dates.

to stay with baseball for j... (Below threshold)
gollyneds:

to stay with baseball for just a moment more, obama doesn't know his ass from third base.

Jeebus Green, do you get ve... (Below threshold)
SCSIwuzzy:

Jeebus Green, do you get vertigo from spinning so hard?

Me? spinning? I responded t... (Below threshold)
Steve Green:

Me? spinning? I responded to HughS as he was telling us that Obama was losing support when inf act the Gallup Daily poll shows the opposite is true.

Truth = Spin only in your world, SCSI.

"Me? spinning? I responded ... (Below threshold)
914:

"Me? spinning? I responded to HughS as he was telling us that Obama was losing support when inf act the Gallup Daily poll shows the opposite is true."


Gallup must have found the kool-aid fountain.

Steve Green is delusional. ... (Below threshold)
Upset Old Guy:

Steve Green is delusional. That is the best simple answer based on the available facts. Enough of him.

Obama may be trying to save his ass in 2012. If he and his political advisers figure that 2010 will be a blood-bath for the Dems, resulting possibly in loss of control of both houses of Congress, he could be in the process of pitching the whole lot of them under the bus. No real problem for him as he has already demonstrated he views them as political pawns anyhow.

Then he would have close to three years to try to convince voters that he is the "moderating force in the middle, shielding the citizenry from those nasty conservatives." In other words, he could be trying to do Bill Clinton's trick of triangulation. It will be harder for him than it was for Clinton because he has already demonstrated that he is not a moderate. But it is likely his best play for saving his presidency and being a two-term president.

Just my thoughts on a snowy afternoon.

"Steve Green is delusion... (Below threshold)
Steve Green:

"Steve Green is delusional. That is the best simple answer based on the available facts. Enough of him."

Yeah, quoting facts - how outrageous.

You're right Upset Old Guy.... (Below threshold)
914:

You're right Upset Old Guy. He will attempt to appear as a moderate. But to accomplish this He will have to leave Mao & Stahlin behind to get there. Not an easy task for the "ONE".

He's a one term lame ducky..

"This gaffe could very well... (Below threshold)
jim m:

"This gaffe could very well cost 0 the Presidency in 2012."

At this rate he won't even get the nomination. Which, in the big picture would be bad since a more competent leftist might actually win then.

"I, like most of the Ame... (Below threshold)
Jeff Blogworthy:

"I, like most of the American people, don't begrudge people success or wealth. That is part of the free- market system."

That puts him in opposition to just about any living Democrat. But I don't believe a word of it. Don't invest in what a politician says. Watch what they do.

914 - I'm watching Hillary ... (Below threshold)
Upset Old Guy:

914 - I'm watching Hillary these days. She already announced she "probably" wouldn't fill the full term as Sec. of State. Now I watching to see if any potential rivals suddenly fall by the wayside.

First Obama riles up the an... (Below threshold)
hermie:

First Obama riles up the angry ACORN-led mobs with his comments, and NOW he decides that these bonuses are hunky-dory.

As Steve Green clearly demonstrates, his minions are trying as hard as they can to spin this into 'good' numbers for Dems, and the 'Won' in particular.

What good numbers? Obama's ... (Below threshold)
Michael:

What good numbers? Obama's numbers are horrible. Green is a twit.

The problem is that Obama i... (Below threshold)
jim m:

The problem is that Obama is from Chicago and this smacks of Chicago quid pro quo politics.

This is the bribe to get them to STFU and accept the bank tax BS that Obama is trying to foist off on the nation.

Obama is first interested in ideology. Second, he is interested in power politics and will pay for and expects to be paid for favors. That's how Chicago works. That's how this White House operates.

I guess the biggest irony i... (Below threshold)
Tsar Nicholas II:

I guess the biggest irony in all this is that virtually 100% of the liberal idiots who voted for Obama in 2008 will ... vote for him again in 2012.

Tsar Nick-That's b... (Below threshold)
jim m:

Tsar Nick-

That's because the typical liberal would rather see this country absolutely destroyed than to see it run by anything other than a leftist government.

Palin is so irrelevent to t... (Below threshold)
WildWillie:

Palin is so irrelevent to the left, the Tea Party's are such a waste and full of angry racists according to the left, but yet the liberals are going out of their way to fund an attack group to attempt to silence these "irrelevent" people. Even Obama's spokesman writes notes on his palm to try and make fun of Palin in the press room when he actually gave her credibility. The left is absolutely horrified of the grass roots effort that has sprung up and refuses to sit back down. No matter how much Stevie and his ilk spin, their actions speak far louder. ww

The left doesn't want to he... (Below threshold)
jim m:

The left doesn't want to hear from the actual people who live in this country. They only want to hear from that fraction that supports them and their policies.

Zero tolerance for dissent.

Geebus, why all the shock?<... (Below threshold)
Marc:

Geebus, why all the shock?

obama was/is vilifying bank bonuses at the very same time the heads of fanny and freddy were getting ginourmous bonuses.

And you DID notice he's not concerned about Goldman Sachs Group Inc bonuses, maybe because nearly his entire econ team is made up of former goldman sachs employees. Not to mention they will be part of his porposed "deficit reduction committee."

I agree the attack on CEO p... (Below threshold)
Wayne:

I agree the attack on CEO pay was overdone and Obama was guilty of it as anyone. The one that took the bailout should be scrutinize on it bonuses but within reason. Personally I wasn't a big fan of the bailouts or the so call stimulus package.

I will give Obama credit if he is changing his anti business course and try to encourage business instead. His statement was a good step but need to be followed up with actions.

"I will give Obama credi... (Below threshold)
914:

"I will give Obama credit if he is changing his anti business course and try to encourage business instead. His statement was a good step but need to be followed up with actions."

He must be reading the Pennsylvania Tea leave's and catchin some good ole' fashion save Yo' ass religion.

See how He is..

Did you know that Whiz Bang... (Below threshold)
BvG:

Did you know that Whiz Bang! used to be a name for a popular magazine in the early 20th century? It was published and edited by William Fawcett who later built a publishing company of note. Fawcett was credited with being the company that brought paper backs into prominence. But the magazine called Whiz Bang! was an irreverant publication that was a combo of page 6 (ie celeb gossip), National Lampoon, the Op-Ed page and Mad Magazine.




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