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Author Topic: Obama caves in to banks on executive pay - Wall Street fears brain drain?  (Read 1347 times)
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WhiskeyGirl
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« on: June 10, 2009, 08:40:47 AM »

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Obama to cave in to banks on executive pay as Wall Street warns of brain drain
By Fay Schlesinger

Last updated at 12:06 PM on 10th June 2009
Comments (0) Add to My Stories Barack Obama's administration is set to cave to banks on limits on executive compensation.
Wall Street is complaining of brain drain as the American economy begins to recover from the greatest financial crisis since the Great Depression.

But with ten of America's biggest banks set to repay $68billion (£43bn) of emergency bailout money, the economy appears to be showing green shoots.

http://www.dailymail.co.uk/news/worldnews/article-1191995/Obama-cave-banks-executive-pay-Wall-Street-warns-brain-drain.html

These mighty TARP banks and organizations have nothing to fear from years of bad decisions.  Obama will continue to bail them out.  Is Obama planning the next bigger massive bank system failure?

What about all the smaller banks?  The ones that remained sound?  Why shouldn't they have the opportunity to prosper?

Something is wrong in America when government squashes competition and give the gold mine to big TARP banks, and little people on Main Street get the shaft, and have to pay for the gold and the shaft.

jmho

What of the Federal Reserve?  What do their off balance sheet books look like?
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