Obama: "People On Wall Street Still Don't Get It"

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The president did not run for office "to be helping out a bunch of fat cat bankers on Wall Street" (will he say that to the fatties' faces today at lunch? Stay tuned). This is why, Obama says, the government put in some constraints, vis-a-vis compensation, on the banks that received bailout money, and the only institutions will be paying out "fat bonuses" will be the ones that have repaid the funds. Obama senses, just in a couple cases, that a tiny part of the motivation for places like, let's say Citi, to pay back TARP may have had something to do with pay. But that's just a hunch. He'll ask Vikram to confirm the suspicion in the next few hours.

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