Tags: obama | banks | reform

Obama: Bank Bonuses Prove Need for Reform

Friday, 23 Jul 2010 12:30 PM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
President Barack Obama says new revelations of big bank bonuses underscore the need for the financial regulation bill he signed into law this week.

Obama on Friday noted that the Treasury Department's pay czar reported 17 banks gave their top executives $1.6 billion in bonuses while receiving billions of dollars in taxpayer-funded bailouts.

The president said the new regulatory law will end taxpayer bailouts of Wall Street firms and will protect consumers who receive mortgage loans and credit cards.

Obama is hoping to extend a series of financial-related victories. Earlier this week he also signed a bill to extend unemployment benefits.


© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web

Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 

You May Also Like
Around the Web

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved