When I asked top White House economic advisor Larry Summers if the President needs to encourage banks to do more lending, he told me that bankers "need to recognize that they've got obligations to the country after all that's been done for them, and there is a lot more they can do." Tomorrow, the President will meet with heads of the country's biggest banks and Summers told me the White House has a blunt message: "President Obama is going to be talking with them about what they can do to support enhanced lending to customers across the country. "We were there for them. And the banks need to do everything they can to be sure they're there for customers across this country."
When I asked top White House economic advisor Larry Summers if the President needs to encourage banks to do more lending, he told me that bankers "need to recognize that they've got obligations to the country after all that's been done for them, and there is a lot more they can do."
Tomorrow, the President will meet with heads of the country's biggest banks and Summers told me the White House has a blunt message: "President Obama is going to be talking with them about what they can do to support enhanced lending to customers across the country.
"We were there for them. And the banks need to do everything they can to be sure they're there for customers across this country."
And the banks need to do everything they can to be sure they're there for customers across this country.
President Obama and his team of economic advisors lashed out at large-cap banks calling bank executives "fat cats" that "don't get it" in a move that will certainly escalate tensions between the nation's largest banks ahead of a meeting between the White House and industry executive. Mr. Obama, speaking just one day before tomorrow's meetings with the heads of top banks at the White House, said that he would attempt to convince bankers to free up more credit for businesses, in hopes of boosting job growth during an interview to be broadcast on CBS' "60 Minutes" program. During his interview, President Obama expressed frustration with banks that the government provided assistance to, including JP Morgan Chase (NYSE: JPM), Citigroup (NYSE: C), Bank of America (NYSE: BAC) and others. "I did not run for office to be helping out a bunch of fat cat bankers on Wall Street," said Mr. Obama.
Mr. Obama, speaking just one day before tomorrow's meetings with the heads of top banks at the White House, said that he would attempt to convince bankers to free up more credit for businesses, in hopes of boosting job growth during an interview to be broadcast on CBS' "60 Minutes" program.
During his interview, President Obama expressed frustration with banks that the government provided assistance to, including JP Morgan Chase (NYSE: JPM), Citigroup (NYSE: C), Bank of America (NYSE: BAC) and others.
"I did not run for office to be helping out a bunch of fat cat bankers on Wall Street," said Mr. Obama.
Translation: Una panoonah banka Diversity is the key to economic and political evolution.
Why doesn't Mr Obama appeal to the law of his nation, the United States, to overrule his economic advisors? Diversity is the key to economic and political evolution.
