Obama’s Own Blind Spot About Bonuses
Mr. Obama is once again decrying the bonuses and excessive pay from Wall Street CEO’s.
From an equally outraged Politico:
Obama: Bonuses ’shameful’
By CARRIE BUDOFF BROWN AND LISA LERER
President Barack Obama said it was “shameful” for Wall Street to walk away with $18.4 billion in bonuses last year . . .
. . . in the depths of a recession. Leaning his elbows on his knees, with his mouth clenched, Obama lashed out at the executives and employees who were found by the New York state comptroller to have earned the sixth largest bonus haul on record last year.
“That is the height of irresponsibility,” Obama said before a meeting with Treasury Secretary Timothy Geithner.
We will skip over the part about responsibility and tax cheat Timothy Geithner being mentioned in the same sentence.
Instead, we will remember that the selfsame Mr. Obama gave his campaign staff bonuses after the November election.
From the New York Daily News:
Barack Obama gives campaign staffers extra cash, BlackBerrys, laptops
BY KENNETH R. BAZINET and MICHAEL McAULIFF
Friday, November 14th 2008
Barack Obama is sharing the wealth with campaign staffers.
WASHINGTON – Barack Obama ended his campaign so flush with cash he’s telling staffers to keep the change – and then some.
Long-suffering political footsoldiers who toiled tirelessly, at least since September, to put Obama in the White House recently learned they will be getting extra paychecks worth a month’s salary, the Daily News has learned.
And boy, are they grateful.
"I think it’s a very nice gesture for people who slaved away and sacrificed for the past year," said one pleased ex-staffer.
Given that so much of Mr. Obama’s campaign contributions supposedly came from the average citizen, would it not have been better to give back what was left over from his $750 million dollar war chest?
Also note that when Mr. Obama gave out bonuses the Daily News called it “sharing the wealth.”
And yet when Wall Street gives out bonuses it is called “corporate greed. “
Moreover, if Mr. Obama is so offended at excessive Wall Street salaries, why did he pick Rahm Emanuel as his chief of staff?
From Wikipedia:
Rahm Emanuel
After serving as an advisor to Bill Clinton, in 1998 Emanuel resigned from his position in the Clinton administration. He then became an investment banker at Wasserstein Perella (now Dresdner Kleinwort), where he worked until 2002. In 1999, he became a managing director at the firm’s Chicago office. Emanuel made $16.2 million in his two-and-a-half-year stint as a banker, according to Congressional disclosures.
Rahm Emanuel – Wikipedia, the free encyclopedia
Add to that $16.2 million dollars the $250,000 Mr. Emanuel got from his brief stint at Freddie Mac, which we have previously noted.
And mind you, Mr. Emanuel got that money from Freddie Mac when they were running completely amok.
Lastly, and closer to home, as we have also previously noted, it is fairly hypocritical for Mr. Obama to get so exercised about signing bonuses when his own wife received one.
From the Chicago Sun-Times:
Barack and Michelle Obama earned $991,296 in 2006
By Lynn Sweet
April 16, 2007WASHINGTON — White House hopeful Sen. Barack Obama and his wife, Michelle, reported $991,296 in income in 2006, boosted by a $506,618 payout in advances and royalties for his books, according to returns released by his campaign Monday…
Michelle Obama’s income of $273,618 from the University of Chicago Hospitals. She will get paid less in 2007 because she cut back on her job because of the campaign. She made more in 2005 because of a signing bonus from the U. of C. given when she was promoted to vice president of community and external affairs in January 2005, just as Obama was sworn in as senator…
Moreover, Michelle’s job now seems to have been a make work position to encourage kickbacks earmarks from her husband, the Illinois Senator. (And, indeed, the hospital did enjoy earmarks from Mr. Obama.)
For as soon as Mrs. Obama left her job the position was dissolved.
From the University Of Chicago’s News Office:
Michelle Obama Resigns Position at University of Chicago Medical Center
January 9, 2009
Michelle Obama has resigned her leadership post at the University of Chicago Medical Center as she prepares to take on her new role at the White House as First Lady.
During the presidential campaign, she had been on leave as Vice President for Community and External Affairs at the Medical Center…
In light of her departure, Madara announced that the Medical Center’s Office of Community and External Affairs has been reorganized under the leadership of Dr. Eric Whitaker, Executive Vice President for Strategic Affiliations and Associate Dean for Community Based Research.
Madara said the move would enhance support for the Urban Health Initiative, an ambitious effort to reshape health care on Chicago’s South Side.
Leif Elsmo will continue his role as Executive Director of the Office of Community Affairs, reporting to Whitaker, and coordinating all aspects of the office’s functions…
So isn’t this once again a case of the pot calling the kettle half-black?
If it weren’t for double standards, liberals wouldn’t have any.
Which calls for a double shot.. and I keep missing the table with that quarter.. must be my blind spot. Sickening double standards indeed.
Oh BTW.. as we move forward with the stimulus activities.. feel free to abscond (and use) with some of my own personal artwork.. maybe even take in a movie.. (warning.. shameless plug)
http://michigantaxes.com/wordpress/?p=1225
Yes a long movie.. without the hot buttered popcorn or oversize box of DOTs but the cost will be far more.
Listen, Once and for all, I don’t want to hear that word anymore. This is the last time. Stimulas, stimulas my ass. This is nothing like the 1930’s. There is no reason for it to happen. This country is so advanced in everything. Technology, medicine, retail, business, food, you name it, we have conquered it. There is only one reason for it. Robbery, the American people were robbed. Since Jan. of 2008, every statement I received for my retirement kept shrinking, every month until Nov. I could not take it anymore. Ten long years it took to put that away. I was proud of that. Then I get e-mails from Human Events and Ann, saying the brats on wall street and Clinton’s jerks put their hands in my cookie jar. This Franklin Raines guy and whoever else. They took real good advantage of Pres. Bush’s good nature while he obsessed with protecting this nation. They ramrodded the other strength of this nation. The economy. Remember fellow teammates…the main definition of 9/11 was to destroy the fundemental strength of this nation. Those twin towers represented money, capitalism, the oxegyn that allows this country to breath. They went and destroyed a lung. The country had a hard time breathing right again. It’s a very careful thing we have here. When Pres. Bush apoligized and felt bad about a month before leaving office, to the media. He looked so sorry for us all. I was so mad at him. I said to the t.v. “It’s not your fault at all sir. You were taken advantage of while your back was turned.” For good reason though. The rip off artists came in and picked up where their brothers who died on 9/11 left off. Their brothers, the jihadists, made it very clear after they took responsibility for it. That, you must destroy America within. When their unique way of life is confused the enemy wins. This is what Franklin Raines and the others did to us. Where are they? How come there not being interviewed every night? Maybe Matt, or Harry or Catie can find them for us. Maybe they can ask them to return our 401′ks, that they had no business putting into Obama’s campaign. THAT”S OUR MONEY!!! How do you stimulate something that was stolen? Those Fanny and Freddie guys should be writing all of us a check right now. Bastards, I tell ya!! Oh wait a minute, I forgot, I don’t want to hear or read that “S” word anymore. Sorry. I’ll use my own word. BALONEY!!!
Right on, bl.
And Barry used WHAT kind of accounting methods, balance sheets, or P&E ratio to make this grave declaration? Ledger books? Quickbooks? Did he do like the rest of us do and look to see what kind of car the CEO drives to determine what he’s making?Nope.
This Harvard graduate uses newspaper articles to sell us on the idea of having the State step in to the board rooms, where the decisions on how much the shareholders would allow their CEO to make are already being made, to make it for them, and, of course, take their pinch along the way.
Obama’s famous for pointing a finger at CEO’s who have spent a lifetime to produce their services, but just WHAT has Barry and the rest of government’s bureaucrats done to deserve THEIR take of the business?
Absolutely nothing.
Yet somehow, this smug little man-boy who has never worked with his hands for a living, doesn’t bear the wounds of a lifetime of toil, can actually stare at the camera with his look of indignation and determination to say that his soft hands know what any of US should be earning?
I always appreciate your reply Mr. Galt, Right on to you to brother!!