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President Obama pushed for more aggressive monitoring of the Wall Street bailout Friday - and he put corporate swashbucklers on notice he'll crack down on their lavish extravagances.
Obama was teed off after hearing reports of companies receiving taxpayer cash, "then going out and renovating bathrooms or offices."
He vented over a "lack of accountability and transparency in how we are managing some of these programs to stabilize the financial system."
"The American people need to be greatly assured that their hard-earned money is not going to the bonuses or the remodeling of an office at a bank that's in trouble," said White House spokesman Robert Gibbs.
"That money needs to go directly to the American people in the form of loans - whether it's a student loan or an auto loan or [one to] a small business so that it can meet its payroll," Gibbs added.
Speaking on ABC's "This Week," Pelosi resisted the notion that the government would nationalize some banks, but when asked whether more funds would be needed above those already approved for the TARP, she said that "some increased investment" in return for equity might be necessary.
Originally posted by Cio88
If Obama feels this way ... Why did they execute the bailouts in the first place??
This looks like the MSM is trying to make Obama look like a super hero...
He was still a senator furing these bailouts , and congress should have sided with him.
This is all a coverup and a free pass for Obama.
Originally posted by asmall89
Well at least he is doing something about it, but he probably shouldn't have voted for the bailout anyway. I think he just did that to help himself get elected and didn't go through it thoroughly enough, just like the majority of the senators. Not to mention a majority of people in the US didn't want the bailout in the first place. It just feels a little hypocritical to me.