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.

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.

3 replies
  1. Dimsdale
    Dimsdale says:

    Maybe he could hire someone to fix that collar on his shirt?  I mean, if the guy can't dress himself (never mind figure out the tax code), how is going to fix our country?

  2. Dusty the Cat
    Dusty the Cat says:

    Now's not the time for bonuses?  Ok, Mr. Obama you said it!  We'll kindly be taking back the 820BILLION DOLLAR bonus you decided we should dole out to you guys come November of 2010.

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