Outrage? Really?

President Obama expresses sudden outrage at bonuses paid to Wall Street executives during what is arguably one of the worst years evah on the Street. Here’s the outrage bite.

httpv://www.youtube.com/watch?v=wXtaClHCG2k

But wait … his Treasury Secretary …. well he got a nice little bonus even though he presided over the banking collapse.

Newly minted Treasury Secretary Timothy Geithner’s finances got a recent boost, thanks to a plump $435,000 severance payment from his old employer – the Federal Reserve Bank of New York.

In addition, Geithner last year earned $411,000 as president of the New York Fed and got another $50,000 to $100,000 for unused vacation and comp time, according to a mandatory financial disclosure statement released by the Office of Government Ethics.

Oops. Then there’s Robert Rubin … Clinton’s Treasury Secretary.

He received more than $126 million in cash and stock during his eight years at Citigroup.^[4] In January 2009, Rubin was named by Marketwatch as one of the “10 most unethical people in business”^[5]

The outrage is deserved and it can’t be spun. Wall Street execs are out of touch. But the hypocrisy is thick. And may I say to you Wall Street folk … the minute you turn to the government for help … expect the government to cuff you.