Outrage? Really?

January 30, 2009 | Jim Vicevich | |

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.

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Jim Vicevich

Jim is a veteran broadcaster and conservative/libertarian blogger with more than 25 years experience in TV and radio. Jim's was the long-term host of The Jim Vicevich Show on WTIC 1080 in Hartford from 2004 through 2019. Prior to radio, Jim worked as a business and financial reporter for NBC30 - the NBC owned TV station in Hartford - and as business editor at WFSB-TV in Hartford for 14 years while earning six Emmy nominations and three Telly Awards.

3 Comments

  1. Dimsdale on January 30, 2009 at 9:30 am

    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. TomTGRWolcott on January 30, 2009 at 10:50 am

    With the Issue of his collar, perhaps he doesnt make enough to pay for a butler!



  3. Dusty the Cat on January 30, 2009 at 6:53 pm

    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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