White House blasts Wall Street over big bonuses
China Daily | Updated: 2009-01-31 07:29
WASHINGTON DC: US President Barack Obama on Thursday chastised Wall Street executives for taking big bonuses at a time when the financial system is on the verge of collapse.
Obama, his vice-president and chief spokesman all fired off statements voicing outrage after the New York comptroller reported $18.4 billion in 2008 bonus payouts at a time when taxpayers' money was shoring up a financial system in crisis.
"That is the height of irresponsibility. It is shameful," Obama told reporters while meeting new Treasury Secretary Timothy Geithner and Vice-President Joe Biden.
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