Saturday, March 28, 2009

Obama Meets Bank CEO's

Bankers Pledge Cooperation With Obama

NY Times — In a bit of political stagecraft designed to quiet the public’s anger toward Wall Street, President Obama summoned the heads of some of the nation’s largest financial institutions to the White House on Friday and urged them to accept responsibility for their industry’s excesses.
The 13 chief executives emerged from the 90-minute meeting pledging to cooperate with the administration’s efforts to shore up the banking industry and the broader economy. On a bright day with the cherry blossoms in bloom, administration officials and the bankers presented a unified message to the nation: We’re all in this together.
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Bank CEOs Pleased By Meeting With Obama

CBS News — Heads of the country's financial services firms met today with President Obama to discuss the financial meltdown and the road to recovery.
Many of the companies that these business leaders represent have been hard hit by the economic crisis - which they helped bring about through risky investments - and they have received billions of dollars in bailout funds from the federal government.
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CEOs warn against rushing reforms

Washington Times — Chief executives from the nation's top banks Friday acknowledged to President Obama during a White House meeting that they have made mistakes with excessive bonus pay and pledged to do better, but they also urged him not to rush reform of financial regulation.
Mr. Obama brought the 15 CEOs to the White House for a noon meeting in the State Dining Room with himself and Treasury Secretary Timothy F. Geithner. No lunch was served, but the president did instruct the executives that they needed to be mindful of the economic pain being experienced by everyday Americans.
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