Shameful? Listen, Mr. Obama, you think Wall St. bankers give a crap about what anyone thinks after doling themselves a few billion in bonuses?
NEW YORK (CNN) -- Bonuses for Wall Street fat cats are easy political fodder in uncertain economic times, but former New York Mayor Rudy Giuliani said Friday cutting corporate bonuses means slashing jobs in the Big Apple.
"If you somehow take that bonus out of the economy, it really will create unemployment," he said on CNN's "American Morning." "It means less spending in restaurants, less spending in department stores, so everything has an impact."
President Obama admonished corporate America on Thursday after the New York comptroller reported that Wall Street bankers received $18.4 billion in bonuses in 2008.
"This is the height of irresponsibility. It is shameful," the president said.
These are the same institutions "teetering on collapse" and asking taxpayers to bail them out while taxpayers are dealing with their own tumultuous finances, he said.
Last year, Congress passed a $700 billion bailout for financial institutions, and an $819 billion economic stimulus package is presently making its way through the Senate after garnering House approval Wednesday.
"There will be time for [bankers] to make profits, and there will be time for them to get bonuses -- now is not that time," Obama said of the bonuses, which were about equal to those of 2004.
When Giuliani ran for the GOP presidential nomination, pundits said his stances on issues like abortion rights separated him from self-proclaimed Reagan Republicans in the field. Not up for debate is Giuliani's alignment with the 40th president on "trickle-down economics," the theory that keeping the rich wealthy creates jobs and solvency for the lower classes.
"Those bonuses, if they are reversed, are going to cause unemployment in New York," the self-described fiscal conservative said. "I remember when I was mayor, one of the ways in which you determine New York City's budget, tax revenue is Wall Street bonuses.
It is shameful, and they don't gi ve a crap, but the more it is made public and brought to the eye of the regular person on the street, and this government,
the more will be done about it.
Normally no one would know, but now they do.
Those guys should be in jail just like the crooks who beat up and rob old ladies.
The world is full of 'greed', and they are just one example. When I drive by
multi-million dollar homes, and when I see the most expensives cars go by,
my first thought is always, I wonder how they came by that money. All of those
homes and cars, and yachts and planes have not been bought with hard earned
money, some have, and if it could have been shared, there wouldn't be so many suffering.
My sentiments exactly and the funny part is very few of these people are any happier than the rest of us. I don't understand the sickness (greed), it's more enjoyable to see a child smile than it is to look at a boat parked in your yard for 50 weeks of the year. Doing things is a lot more enjoyable than the mere possession of a lot of doodads, jewellry etc.