Tuesday, March 24, 2009

Obama slowing down anti-Wall Street rhetoric 
And yet the shrugging begins:

Some bankers say they turned the conversations into complaints about the antibonus crusade consuming Capitol Hill. Some have begun "slow-walking" the information previously sought by Treasury for stress-testing financial institutions, three bankers say, and considered seeking capital from hedge funds and private-equity funds so they could return federal bailout money, thereby escaping federal restrictions.

No wonder Geithner and Obama can't staff the remaining top slots at treasury: They are now despised and mistrusted by anyone qualified to hold those posts!

When Michael Froman, a Citigroup Inc. executive and Harvard Law friend of Mr. Obama, joined as a senior official in the White House, he gave to charity his year-end bonus. The White House says it didn't require any Wall Streeters coming to Washington to forgo their bonuses. But, given the political explosion over large payouts to executives from companies receiving federal funds, a White House spokeswoman explains, officials "encouraged executives who come to work here to review their executive compensation."

In other words, come work with us!!! It will only cost you millions!

Splash, out


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