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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