During a morning press conference, President Obama used harsh words regarding the irresponsibility of bank executives, and spoke of the mind-set of "short term gain at the expense of everything else" which had led to the current economic crisis. Standing with Treasury Secretarty Timothy Geithner, he spoke of the American taxpayers and their suffering within an economic system which had acted without caution. He asserted that although America does not begrudge wealth and believes in rewarding success, that what angers many Americans, "and rightfully so" is the rewarding of bank executives for failure. He proposes a $500,000.00 cap for bonuses.
This press conference revealied the ideological basis of Obama's thinking, of which he is becoming increasingly outspoken. Commentators have stated that while this talk may impress some, most Americans are clearly concerned with two issues: keeping their jobs, and affording their mortgages. Additionally, there has been talk among pundits that a progressive movement is in the shadows, strong-arming the President into taking the harsh stance he has, which is at variance with some of his campaign promises ( not to cap bonuses).......
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