"How can the President tell Wall Street how to spend their money?"

[Avalux]

That was the opening for a completely insane, runaway segment on CNN this morning.

The CNN talking head (can't remember his name) said it - then went on to ponder how Obama could have any influence over companies who received TARP funds - how he could prevent them from spending it and giving bonuses however they wish. In fact, he justified these bonuses; claiming that employees' salaries aren't very high because they count on the bonuses.

What the hell is wrong with this guy? First of all, it's not their money, it's OUR money. He should have said "How can the president tell Wall Street how to spend OUR money?" but he didn't and the entire segment was so pro Wall Street it was ridiculous.

I haven't even mentioned the appearance by Rudy Guiliani, who said the bonuses are necessary, otherwise the city of New York will suffer. Wall Streeters MUST receive their bonuses so they can spend money in the city.

Ugh. x(

[Mari333]

1. CNN is so loaded with empty headed vacoussss puff n fluffs

And is another reason I dumped my television set. Too many just out of journalism school airheads whose mums and dadums paid their way thru college. They all look like cheap porn stars and attempt to spout meaningless sloppy opinions about this and that, and they are as out of touch as the CEOs on wall street...hell, the newscasters on CNN are probably the children of the CEOs on wall street..

[alcibiades_mystery]

2. Because it's OUR fucking money they're spending

Dumbfucks.

[Avalux]

4. Yes it is, and I really couldn't believe that ass didn't say so. n/t

[TankLV]

3. You're right - it's not "their" money - it's MY money!!!

It's a very simple concept...

ALL of these idiots should be BLACKLISTED so that they can never ever again work in the industry THEY helped DESTROY. Period.

If Vegas can do it, why can't we?!!!

[L0oniX]

11. J. G. Wentworth ...worth a phone call?

[Orsino]

15. Yes. It should always be emphasized that they lost all of *their* money.

But the corporate apologists are quick to try to hide the corporate welfare.

[annabanana]

5. Daytime cable coverage is SO slanted

to the corporate message that bricks could roll off it...

I think they keep it like that because the bosses watch from the office.

[Avalux]

6. You're probably right.

They're so out of touch with average Americans it's sickening.

[napi21]

7. I don't think Obama CAN tell WS how to spend the $$ already given to them.

Paulson COULD haver put restrictions on it when it was first given, but he didn't, and I doubt anyone can go back now and change the terms. What Obama is doing is publicly shaming them into not doing it again. Of course he can also tell them He can also state that NO FURTHER $$ will be available if the initial funds were misused!

[Avalux]

9. Yeah but CNN needed to point out it's taxpayer money -

that opening statement really pissed me off. It's NOT Wall Street's money.

[terisan]

18. It was Congress who did not require restrictions on the bailout-Paulson may have

asked them not to but the ball was in their court. They chose to pass the enabling legislation without restriction.

[ProfessorGAC]

8. Because It's Not THEIR Money

If someone gives you money, and they want to attach strings, the lender gets to attach those strings.

What's so hard to understand about that?
GAC

[Greyhound]

10. Also the people we see on TV live in the bubble of mid-six figure salaries being "middle-class".

None of them, with the possible exception of Rachael Madddow since she is/was in radio, have any clue about average life in America.

If you were not born into a parasite family, entertainment is where the money is, and pretending to be a journalist is the easiest way to work in entertainment.

[closeupready]

12. Meanwhile, people who need public aid have to jump through 35,000 hoops, verify a daily diet of 900

calories per day, and swear on their life never to have any fun as long as they get $50 per week from the federal government. :mad:

[Ichingcarpenter]

13. Faux said the same thing this morning

Seems like that's the new talking point from
their corporate masters. Faux said almost the same thing on bonuses.

[madrchsod]

14. well because he`s the president of the united states

it`s reasonable to assume that the twit that said that never studied history. a simple google search,well i`m assuming he has a computer, would show many examples of presidents "telling" people what they should do.

it`s amazing what passes as intelligent conversation these days

[Larkspur]

16. The greatest President of the 20th century did so

These economic royalists complain that we seek to overthrow the institutions of America. What they really complain of is that we seek to take away their power. Our allegiance to American institutions requires the overthrow of this kind of power. In vain they seek to hide behind the flag and the Constitution. In their blindness they forget what the flag and the Constitution stand for. Now, as always, they stand for democracy, not tyranny; for freedom, not subjection; and against a dictatorship by mob rule and the over-privileged alike. -- A Rendezvous With Destiny, Franklin D. Roosevelt, 1936

[Avalux]

17. Thanks for posting that.

Roosevelt didn't have a cancerous MSM attacking him at every turn though. x(

[ozu]

19. The Fed

The Fed doesn't answer to the US government. It's disgusting, but our representatives signed our money over to an entity that could do whatever it wanted with it.

[Johonny]

20. You ever take money from the federal government

They can tell you how to spend the money. It's in general standard practice. It's a free country, these banks are free NOT to take government money. The guy sounds like a fool that has no clue how our government does business.

[Blue_Tires]

21. it's not 'THEIR' money, you ignorant media fuckwits!