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‘Top Line’ -- Dem to Obama: Bank CEOs Should Be ‘Brought Down,’ Too
March 30, 2009 2:41 PM
ABC News’ Rick Klein reports:
President Obama’s move to push the head of General Motors to resign is fueling criticism from his left, with some liberal voices saying the president should take similarly tough actions against the heads of banks that have taken federal bailout funds.
On the first edition of our new political Webcast, “Top Line,” Rep. Maxine Waters, a senior member of the House Financial Services Committee, said Obama should “absolutely” force bank chiefs from their jobs.
“Absolutely, absolutely,” Waters, D-Calif., told me and ABC political director David Chalian today. “I think that they're in the same situation. Many of them are making huge salaries. They have stock options, they have bonuses, they have been responsible for predatory lending, sub-prime lending, they all made a lot of money, they were irresponsible in the way that they created this bubble, and they too deserve to be brought down, if necessary.”
(ABC’s Jake Tapper today asked White House Press Secretary Robert Gibbs to respond to this perception of a double standard.)
On another front, Waters expressed some skepticism about the president’s new Afghanistan policy -- saying she doesn’t want the open-ended commitment there to “recreate Iraq.”
“Well, there are some of us that are concerned about the Afghanistan policy. We do not want to recreate Iraq,” she said. “We know that the President is very much concerned about getting Osama Bin Laden. He believes that Afghanistan is a haven for terrorists and he's particularly concerned about what is happening on that border between Pakistan and Afghanistan, and he wants the American people to understand very, very much that he is there to make sure that this country is safe and secure.
“But those of us who were concerned about the out-of-Iraq information that we put together, we're not going to rest and say well, that's the way it is. We're gonna continue to raise questions,” she added. “We don't want to repeat what is happening in Iraq.”
Also on today’s show, we chatted with Politico’s Jonathan Martin about the president’s upcoming trip to Europe, and previewed tomorrow’s House race in an upstate New York district.
March 30, 2009 in Top Line | Permalink | Share | User Comments (49)
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Harold Koh has been nominated by obama to the the State Department’s Legal Advisor. Keep in mind this position could be a launching pad for being a supreme court nominee. He believes that International laws are above ours and says JUDGES should interpret the Constitution according to other nations’ legal “norms.” Sharia law could apply to disputes in US courts. The United States constitutes an “axis of disobedience” along with North Korea and Saddam-era Iraq:
Posted by: OMG | Mar 30, 2009 2:56:44 PM
Whoa! Obama has unleashed the 'hit men'
for the administration. Waters, always
the calming voice of reason, is issuing
a fatwah. This administration has all
the subtlety of the Ton Ton Macute...
and many of the same aims.
Posted by: Trajan | Mar 30, 2009 3:03:00 PM
Maxine Waters needs to start with her own husband's bank in california
Posted by: jamescbuilder | Mar 30, 2009 3:11:10 PM
anyone ready to start the chant?:
SEIG HEIL OBAMA
This guy is a moron
Posted by: Obama and his party of clowns | Mar 30, 2009 3:14:36 PM
"they have been responsible for predatory lending, sub-prime lending, they all made a lot of money, they were irresponsible in the way that they created this bubble, and they too deserve to be brought down, if necessary."
Maxine,
Will you inculde your buddy Barney Frank in this hunt for justice?
Posted by: Mike_C | Mar 30, 2009 3:16:48 PM
There are many reasons why our economy is where it is. It appears that greed played a big part in much of it. But, when did it become illegal, unethical or immoral for a private business person to benefit from a company-approved salary, bonus, stock options or retirement plan?
Posted by: bkm | Mar 30, 2009 3:26:10 PM
Posted by: Matt | Mar 30, 2009 3:50:45 PM
I can understand the President's need to get the market lending and I can agree with his asking for new blood/ideas from GM, but no matter how you pick apart the pieces it all seems skewed to the actual people who have taken the US taxpayers and others for the ride.
Posted by: jerry rubin | Mar 30, 2009 4:21:00 PM
Rep. Maxine Waters, a senior member of the House Financial Services Committee, should take a look in the mirror. Where have you been for these years? As Bush was deregulating where was your voice of dissent? Where was the band-wagon you now want to ascend? It may be politically advantageous to seize on public sentiment at this time, but it does not serve the nation well. You Rep Waters have the power to name names and call for resignations - passing the buck to the President who clearly has his hands full (from both sides of the aisle) does not serve your constituency nor this nation well. This comes from an old time Democrat who measures what you say with what you do.
Posted by: OnTheGloryRoad | Mar 30, 2009 4:27:42 PM
"...they were irresponsible in the way that they created this ECONOMIC MESS, and they too deserve to be brought down, if necessary...." Change a couple of words and we're talking about our esteemed, elected officials.
Posted by: NewCongress2010 | Mar 30, 2009 4:30:47 PM
Obama compalined about AIG bonuses and yet
appointed Martin Feldstein to the Task Force on Tax Reform. Feldstein is a member of the Board of Directors of AIG.
The same board that gave the bonuses. Now he fires Wagoner but gives him $20 million dollars. The DOW dropped 250 points and the Europeans are not happy with Obama. This guy is a disaster for The USA.
Posted by: CW | Mar 30, 2009 4:32:23 PM
I say congress must go
Posted by: law1023 | Mar 30, 2009 4:33:31 PM
Rep. Waters: I'm going to say again, as an old time Democrat I don't like politcal posturing when the agenda of the President cleaning up this mess becomes something you like to flap your mouth about. YOU need reminding Rep Waters that you have power in your elected position - a power which can also come back to haunt you. You know as well as we do that bailout funds went to a bank in which your husband had owned stock and served on the board. You were a senior member of the congressional committee dealing with the financial crisis when OneUnited Bank -- one of the nation's largest minority-owned institutions -- received $12 million in bailout funds. Your husband, Sidney Williams, served on the bank board until early last year and held at least $500,000 in investments in the bank in 2007. You above many in the House know, knew and were well aware of the banking deregulation going on under President Bush. Now you call for the President to become Personnel Manager for Boards of Directors of Banks - delegating your responsibility in the House in face of public outrage is displicable.
Posted by: OnTheGloryRoad | Mar 30, 2009 4:37:11 PM
I wonder if all you moderate are getting the change you wanted Socialism
Posted by: law1023 | Mar 30, 2009 4:37:16 PM
Big Brother(President Obama) strikes
again!
Since he is hiring and firing
corporate CEO's what is next for
the president?
Will he give companies a list of
people to hire?
Will he decide what the salary scales
will be?
Will he be deciding whether or not
we need to go to the doctor or
whether we should live or die?
Will the president install video
devices in our homes with the ability
to spy on us from the moment we wake
up until the moment we go to bed?
This guy is a nightmare.
2012 can't comje soon enough!
Posted by: reaganfan | Mar 30, 2009 4:37:44 PM
If CEO of GM can go, why not CEO's of banks because they have all mismanaged their business into debt? Well the US congress has mismanaged the US taxpayers burden into unpayable debt therefore down with all congress. Let us eliminate all of congress and start anew.
Posted by: george | Mar 30, 2009 4:39:42 PM
I agree congress should have their pay cut & their pension taken away! If you go by performance in the interim so should'nt chavez oh I mean obama! When govt start running business you get the post office, social security and medicaid! "sp" The Jimmy Carter of his time is proving he's a laughing stock here and abroad. When European socialist goverments says we have spend too much money that should scare every american to their core!
Posted by: robert | Mar 30, 2009 4:41:29 PM
Read this article "Maxine Waters Sought Bailout for Husband's Bank".......http://www.newsmax.com/insidecover/waters_bank_aid/2009/03/12/191417.html
Posted by: CW | Mar 30, 2009 4:41:33 PM
Here is another article about Maxine Waters trying to get money for her husbands bank.....http://blogs.abcnews.com/roodfromdc/2009/03/husbands-bank-t.html
Posted by: CW | Mar 30, 2009 4:43:07 PM
Rep. Waters you are exactly right on this point. As an independent and moderate Democrat - and there are millions of us- we have all been wondering why so many of these fat cats at the banks get to keep their jobs when they have caused such a huge mess. Probabbly because Geither and others feels so close to Wall Street- kinda like Former secretary Paulson was- they take care of their own. Most all of us are not for any of these bailouts - NONE!!! But it is also another slap in the face to those of us that have no golden parachutes, no private jets, and no bonuses even in good times that the double standard is so blatent between Wall Street and Main Street ( Main Street includes the autos). While we are not for any more auto bailouts, the autos are treated much differently than these fat cats on Wall Street. And yes, Rep. Waters- also recognize that Frank and Dodd are a big part of the problem!!
Posted by: Angela | Mar 30, 2009 4:46:50 PM
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