President Barack Obama said he doesn’t “begrudge” the $17 million bonus awarded to JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon or the $9 million issued to Goldman Sachs Group Inc. CEO Lloyd Blankfein, noting that some athletes take home more pay.
The president, speaking in an interview, said in response to a question that while $17 million is “an extraordinary amount of money” for Main Street, “there are some baseball players who are making more than that and don’t get to the World Series either, so I’m shocked by that as well.”
“I know both those guys; they are very savvy businessmen,” Obama said in the interview yesterday in the Oval Office with Bloomberg BusinessWeek, which will appear on newsstands Friday. “I, like most of the American people, don’t begrudge people success or wealth. That is part of the free- market system.”
Well, well, well. After spending the majority of his turn in office demonizing such arrangements, this is quite a turn, no?
President Obama may be seemingly hypocritical but it’s all really much more simple than that. It’s one big ol’ fat ruse which the Prez is resorted to playing these days.
Obama will laud the bonuses as a demonstration of how relatively healthy Wall St. is and then turn around and cite the prosperity of these financial institutions as justification for his excise tax on the same to pay down the debt.