How could Obama not know about CEO bonuses? This is public knowledge.
I expect more from the "smartest man in the world"!
What I'm truly shocked about is his ignorance.
Dizzy
If you read the story, you would know that Joe's subject line is mistaken. The president never said he was"shocked" or hadn't a clue that CEOs got big bonuses. He and the vice president said they were outraged, disgusted, and similar language. No surprise involved.
If you paid attention even occasionally during the campaign, you'd know that Obama slammed excessive compensation repeatedly. Obviously he is not ignorant of its existence.
As to how to fix it, of course there should be restrictions going forward. I don't know about a clawback regulation. That smells like an ex post facto law to me. I happen to retain my fondness for the Constitution even if abiding by it does not produce the results I would prefer in a specific case.
I pretty much agree with Ptichka except that it is not socialism to regulate non-TARP corporations. In a market system where publicly traded companies literally reach into everything, they can bring down the entire world economy with them when they fall. Even without TARP funds, corporations are not using their own money. They are using other people's money.
If I as an individual commit fraud against another person or a business, I can go to prison if caught. Corporations enjoy the legal rights of individuals so they should accept the responsibilities as well.
Susan
