WATCH THIS: President Obama Pwns greedy banks
President Obama lays bare the greed… With unimaginable hubris, the Banking Industry has:
- deregulated itself (with the help of politicians in their pockets),
- created and globally sold insolvent financial instruments,
- run for bailouts when their shaky house of cards became visible,
- paid themselves BILLIONS of dollars in salary and bonuses while Americans lost their jobs and homes because of the banking-caused implosion,
- and now has hired phalanxes of lobbyists to AGAIN go to their bought-and-paid-for politicians in order to avoid regulation, fees or ANY modicum of fair payback to the American people, whom they see as suckers.
Obama points out that the fees he’s asking for are LESS than the bonuses Banks want to pay their senior management this year alone. Remember, Banks want to pay bonuses TO those who caused our global recession. Why? Because by taking bailout money and using it to again bet against America, they’ve made even more blood money in the last year… Its unimaginable greed, made real by the evil doings of many in the financial industry and politics. Bravo, Mr. President for being so blunt.
The Obama administration has found a banker it can do business with match: Bank of America Corp.’s Brian Moynihan.