Obama Doesn’t `Begrudge’ Millions in Bonuses for `Savvy’ Blankfein, Dimon (Bloomberg)
“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.”
For Office Romance, The Secret’s Out (WSJ)
Screw your co-workers!
UBS Claws Back $282 Million of Bonuses From Bankers After 2009 Loss Report (Bloomberg)
“The critical condition, a net profit for 2009 according to International Financial Reporting Standards, was not met,” Chief Executive Officer Oswald Gruebel said in a memo to employees dated yesterday.
Investors Questioned Morgan Stanley’s Pay (Reuters)
Good news though: “There are no signs of a shareholder rebellion that could lead to en masse dumping of Morgan Stanley shares or embarrassment at this spring’s annual meeting.”
Oaktree’s Marks Urges Faith- And Restraint (Dealbook)
“I’m not saying that leverage is a mistake, but it’s a mistake if it gets carried too far,” Mr. Marks, the chairman of Oaktree Capital Management, told an audience at the Super Return 2010 conference here.
Bernanke to Outline Exit Strategy in Testimony (CNBC)
He’ll also offer some tips for digging one’s car out of 4 feet of snow.
Washington Builds a Snow Mountain (WSJ)
“We’ll pile it as high as we can,” Mr. Howland said. “Pretty soon will be able to ski down it.”
Snobama Angels!
Obama just made it snow. Bitches.
Obama apparently read the comments on DB, and is now comparing high CEO salaries to pro athletes’. He has also become aware, suddenly, that LB et. al. are “savvy.”
This was not the case last week. Of course, the news that Wall Street campaign contributions are shifting from Ds to Rs is simply coincidental. The snow has caused Obama to genuflect.
Bammy’s attitude directly proportional to campaign $.
@2 he sure as shit ain’t making it rain (unless you’re unionized and work for the government)
I think all of WS is savvy. Taxing the savvy is how I pay for my progressive programs to grow the govt.
Unions unite!
-BHO
Obama is apparently replacing Jack Bauer on next week’s 24…and is also expected to replace ‘Jesus Christ’ in any and all future religious publications.
In related news, a DC public official declares: “We pile it as high as we can.”
Indeed they do, down in Washington…
@2 he made it snow and is counting the plowing jobs as created by the Stimulus Plan
@3 His ratings are at an all time low. None of his policies are liked by Americans and his contributions are not just NOT flowing to him they are going to the GOP.
I guess he figures we just dont understand his policies. Maybe he should meet with Katie again and clear things up.
Complimenting LB is sooo not the way to get anyone to give a shit about his progressive agenda.
@7 congrats on a joke that would’ve been clever 1-2 yrs ago.
UBS sucks
I’m not the biggest fan of the president but I love that no matter what he says on bonuses (they suck! fuck the bonuses! they’re great! they deserve them!) some douches will use it against him.
‘And when Mr. Shaw was looking for a novel way to propose marriage, he picked the office as the setting. He engaged his boss as a co-conspirator. During a date with Ms. Sato one evening, his boss phoned Mr. Shaw on the pretext of asking him to stop by the office to test some teleconferencing gear.
As Ms. Sato gamely tried to help with the “test,” Mr. Shaw guided her to the engagement ring he had hidden, then flipped a flashing slide onto her teleconferencing screen: “Say yes!” After a moment of stunned silence, she did.’
worst engagement story ever.
I love UBS, Goldman, Citi. I love them, man. I do.
- BHO
2009-2018ish = 1929-1939ish
Dont see how it can be avoided
@10 – Thanks man.
…oh and congrats on an equally clever insult, really well done.
@12its exactly because of what you say… he is fULL OF SHIT.He says whatever he thinks will get him better poll numbers.
We all know in his heart he wants to take our money and give it to his union buddies by expanding the govt.
Thats why we “use it against him”
Love this Obama article. In summary:
“You know I don’t mean to hit you baby, but sometimes you just make me SO mad. You know I love you. Where are you gonna go! You know you won’t leave me! You tramp! You know I didn’t mean that baby, I’m just having a bad day, come here”
Moment of silence for Captain Phil Harris please.
Blankie forfeited 90 milly, and all he gets is this lame statement?
He doesn’t respect you enough, Blankie! You deserve better!
@19 Why? Did they guy give you crabs?
Obama’s better for Wall Street than McCain ever would have been. He’s a Rubinite. Big government, big corps and big banks. Problem is, it ain’t a free market out there. It’s a communist 5-year plan type market where the government decides where money is spent. Right now, it’s being spent on Wall Street – so shut the f**k up and enjoy the ride.
2nd @11.
@16 I thought it was hilarious. You were pwned
#22 are you also a closet socialist?
So now Obama is a capitalist?
I wonder if his change in tone has anything to do with the fact that he effectively shut down small business hiring, curtailed business events and the hospitality business, and attacked the monetary rewards of success. Last I checked local business, bonuses, and corporate events are what provides local jobs. Private capital creates jobs, adn Obama’s big mouth keeps them away. So, after spending a year bashing everything he did not understand our dear president finally gets it? Maybe his Press mouth Gibby may elaborate?
My analysis of the first year in office: I hereby term it, “The Lost Year”. Big O spent it chasing windmills. For Bush Sr, “it is the economy stupid”, for Obama, “it is jobs you idiot”
who did Burnett piss off to have to broadcast from San Antonio? It’s such an American city…
Politics = lame.
@22 Using the hypothetical policies of McCain to defend Obama is like blaming Bush for the economy after Obama has been in office for over a year. Its boring and frankly a totally shit argument that no one with an education buys. I would stop selling it.
Based on the election and what Obama said he would do and what he actually HAS DONE. We have no idea what McCain would have done.
I dont see how getting paid in stock is paying WS. I am not even in finance but I do live in NYC. I can tell you paying WS in stock is like bending the line to NYC much need IV. Obama’s policies are going to turn NYC into Detroit!!!
@28, seriously this is a finance blog… Bess, can we get some titties up in this byotch?!
As soon as Obama tries to wean the proleteriat from the teat of the capitalists to the government’s he decides to change stripes and praise the milk the capitalists have always provided to the masses. Obama does not know who he is or what he believes, his foundation and constitution are built on soft ground and shifting winds. Mistakes are part of the human condition, denying one’s mistakes are a character flaw.
@31:
Racist!
Deport Obama and keep Auntie Zeituni
#32, please show the racist comment in the post? Why are you so quick to label someone a racist? What are you paranoid about? Please explain you ignorance….
@34:
It was a joke, oh perceptive one…..
Ha, got me, looks like I am the paranoid one…
@34 come on! “he decides to change stripes?” not subtle at all.
besides if you’re commenting here it’s a safe bet you’re a racist, sexist, anti-semite douchebag. just sayin’.
-not Pfluger
@29. Since economic cycles last longer than 1 year, bringing up events from longer than 1 year ago is hardly a “shit argument.”
Perhaps you should have bought some history books along with that “education” of yours, genius.
@ 27
It must have been the flight to Dubai was cancelled so she ended up in San Antonio.