President Obama Discusses Goldman Sachs, Wall Street Compensation & Financial Regulation (PBS Jim Lehrer Video 7-20)
Jul 23, 2009 at 5:15 AM
DailyBail in Bank Bailouts, President Obama, bailouts, bank bonus, bonus, goldman sachs, goldman sachs, jim lehrer, pbs, president obama interview, presidential video, video, wall street

The first 13 minutes are a discussion of Obama's health care proposal.  Honestly, I skipped it.  Wait for the video to finish streaming, and then the FF button works.  While discussing Wall Street pay and bonus structure, the Prez says that once-failed banks "feel no remorse", and have done little to alter the compensation culture which helped create the crisis.  Decent discussion.



Guest Tortured Soul Commenter for this video is James who wrote:

Sorry, couldn't stomach it.  He has no "second thoughts" about the bailouts.  Then he waffled about how he has misgivings about it was "structured" etc.  Dude (talking to you, Obama), you didn't have a "first thought" about the bailouts.  You pimped for that sucker like your life depended on it.  If you were a real man, like Brad Sherman or Elizabeth Warren, you would have had some thoughts BEFOREHAND.

Also, Obama admits that he is putty in the hands of his advisors ("my economists") -- he can only use metaphors and analogies to describe the "meltdown," "the bleeding," "the whack" the economy got, "we stepped back from the abyss," and yes, we had to "put out the fire."  But "we're not out of the woods yet"!

Damn, after bleeding, melting, getting whacked, nearly falling into the abyss and also having our house burnt down, you mean to tell me we're not out of the woods yet?  From a literary perspective, this is some seriously late-empire sort of stuff.



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