President Obama (never get sick of typing that) has some strong words for the Wall Street companies who, per the New York Times' reporting, rewarded their incompetence with a whopping $18.4 billion in bonuses last year.
That's President Barack Obama's one-word reaction to a report that Wall Street employees got more than $18 billion in bonuses last year.
Said Obama: "That is the height of irresponsibility. It is shameful."
The president said he and new Treasury Secretary Timothy Geithner will have direct conversations with corporate leaders to make the point.
Obama said there is a time for corporate leaders to make profits and get paid bonuses but now is "not that time."
"Outrageous" is precisely the word. The same people who two months ago came to Congress with hats in hand and took a boatload of taxpayer money are now doling out billions in "bonuses"? Bonuses? Aren't you supposed to get a bonus when you do something well?