Sunday, March 29, 2009

Oh, The Poor, Poor Bankers!

Gawker reports on an article in the Wall Street Journal...

When administration officials began calling them to talk about the next phase of the bailout, the bankers turned the tables. They used the calls to lobby against the antibonus legislation...

The banks' message: If you want our help to get credit flowing again to consumers and businesses, stop the rush to penalize our bonuses.

And Gawker adds to the argument, rather sarcastically...

If the president wants bankers to accept the billions of taxpayer dollars they need, he's going to have to accept their outrageous demands, like bonuses forever. Wait, what?

American bankers are sitting on trillions of dollars in troubled mortgage securities they can't sell without admitting their banks are nearly worthless. So they need billions of fresh dollars from the government.

But the government has been trying to take away their precious bonuses, as if they're not excellent at running banks. So the bankers are being dicks, to the president.

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