In an interview with Business Week, Obama said that he didn’t begrudge J.P. Morgan Chase CEO Jamie Dimon or Goldman Sachs CEO Lloyd Blankfein their bonuses
In an interview with Business Week, Obama said that he didn’t “begrudge” J.P. Morgan Chase CEO Jamie Dimon or Goldman Sachs CEO Lloyd Blankfein their bonuses for 2009, which amounted to $17 million and $9 million in stocks. While this has spurred outrage and unfavorable comparisons to last year’s remarks blasting the $121 million in bonuses at AIG, there are a few good reasons why lavish bonuses might be more justifiable this time around.
So, what did the president say?
“I know both those guys; they are very savvy businessmen,” Obama said in the interview yesterday in the Oval Office with Bloomberg BusinessWeek, which will appear on newsstands Friday. “I, like most of the American people, don’t begrudge people success or wealth. That is part of the free-market system.”
He does, however, view the amounts as shocking.
But who would have guessed! Our president doesn’t begrudge CEOs bonuses that are smaller than they were before the crisis, when their companies were hugely profitable and their TARP money had been repaid? What kind of socialist is he, anyway?
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