India Broadband Forum

saurav_k

Obama: bonuses received by Wall Street bankers flawed

Friday, Jan 30 2009

U.S. President Barack Obama that the bonuses and the huge financial rewards earned by bankers working on Wall Street, which is estimated to be worth billions of dollars, is "disgraceful and shameful", for as long as they did so at a time when the taxpayers to save the financial and banking sector in the country.

He said in the description of the bank's financial district in New York (Wall Street): "The actions at the height of irresponsibility."

He stressed that his administration would amount to bankers, they need to show some discipline and a sense of order and control and restrain themselves.

Obama said: "This is disgraceful and shameful, which part is that we will need those who are working on Wall Street, and who are seeking assistance, to show some restraint and some discipline and a sense of responsibility."

He concluded by saying: "The American people are aware and understand that we have a big hole we have to get out of them ourselves, but (the people) did not liked the idea and there are some people who were digging a hole or other hole bigger and deeper than those of the Naqba," he said.

U.S. president made the remarks in response to reports of the staff of financial firms in New York have received over the past year to an estimated U.S. $ 18.4 billion and financial rewards.

panchabhut

HTats why they are called investment bankers.
They make their own investments out of funds people bank with them.
Whether you win or lose in the market, they always get their share of commission.

aashaka_gandhi

btw i jus read the headlines today in one of the news papers....Obama's salary package is 817 Billion Dollars?? dunno if its p.a or 5 yrs....

saurav_k

Obama to get over 10-times of Indian Prez salary

aashaka_gandhi

cool man....thts really neat....!!!!!