Obama takes Wall Street to the woodshed -- but will he follow through?

Filed under: People, Investing, JP Morgan Chase, Goldman Sachs , Bank of America

On Sunday night's 60 Minutes, President Obama punched up his ongoing rhetorical battle with Wall Street, declaring that "fat cat bankers" have shown little "shame" about their out-sized compensation packages. Today, investors will see if the leader of the free world backs up his words with deeds as Obama meets with top financial executives.

In the interview, Obama suggested that many banks are paying back their TARP money early solely to free themselves from government restrictions on pay. He used fairly strong language, in what appeared to be a nod to the populist outrage over Wall Street bailouts.

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Obama takes Wall Street to the woodshed -- but will he follow through? originally appeared on DailyFinance on Mon, 14 Dec 2009 10:25:00 EST. Please see our terms for use of feeds.

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