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Showing Original Post only (View all)Barney Frank Leaves Wall Street Defenders Speechless: Why Are Bankers ‘Paying Themselves So Much [View all]
Barney Frank Leaves Wall Street Defenders Speechless: Why Are Bankers Paying Themselves So Much Money?http://thinkprogress.org/economy/2013/09/15/2622641/barney-frank-leaves-wall-street-defenders-speechless-paying-money/
As his fellow panelists sought to sidestep criticisms of the financial industry on the five-year anniversary of the bank failure that kicked the financial crisis and Great Recession into full swing, former congressman Barney Frank asked a simple question that brought Wall Streets defenders up short. To your question about those poor beleaguered bankers who have been forced to do so much, Frank said, why are they paying themselves so much money? Where did these enormous salaries come from if they were in fact in such serious trouble?
Frank was responding to CNBC host Maria Bartiromos call to get beyond the conversation of is Wall Street evil, are the bankers evil and causing pain and instead look to economic growth as a cure-all for the vast inequality in income and wealth that has been exacerbated since the end of the recession. (Nevermind that the deregulation of the financial sector is a primary driver of inequality in the U.S.) His question produced several seconds of silence as Bartiromo and former Treasury Secretary Hank Paulson laughed nervously and looked to Meet The Press host David Gregory for help. As Bartiromo seemed about to respond to Frank, Gregory stepped in to change the subject.
Watch the exchange below:
BARTIROMO: We need to get beyond the conversation of is Wall Street evil? Are the bankers evil and causing pain? And toward the conversation of, how do you create sustainable economic growth? That will answer the issue of inequality. Because with growth comes jobs.
[...]
BARNEY FRANK: I do want to add one thing, though, to your question about those poor beleaguered bankers who have been forced to do so much to keep from not being able to pay their debts they cant lend money. if they really are running businesses that are so stressed that they cant do their basic work, why are they paying themselves so much money? Where did these enormous salaries come from if they were in fact in such serious trouble?
And of course Gregory did not let anyone answer
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Barney Frank Leaves Wall Street Defenders Speechless: Why Are Bankers ‘Paying Themselves So Much [View all]
cal04
Sep 2013
OP
The price for failure is high, and even higher when you take in their salaries.
Baitball Blogger
Sep 2013
#2
I couldn't help notice Paulson's facial expression when Barney started talking
99th_Monkey
Sep 2013
#6
Just fired off an e-mail to Meet the Press to find out why Gregory changed the subject to this huge
kelliekat44
Sep 2013
#7
I think he said we need to get beyond something. F him. He is a tool of the 1%. nm
rhett o rick
Sep 2013
#42
He's frickin' USELESS. David Gregory is merely another wholly-owned subsidiary.
calimary
Sep 2013
#48
He may have signed on to the bailout but he didn't sign on to their obscene pay. nt
kelliekat44
Sep 2013
#35
I am in favor of claw backs to strip them of their ill gotten salaries, bonuses and pensions
on point
Sep 2013
#13
There is no "beyond" as long as bankers pay themselves such out of proportion salaries and bonuses.
JDPriestly
Sep 2013
#14
All those free marketeers out can never explain this because it's an outright ripoff!
Theyletmeeatcake2
Sep 2013
#18
I hope Barney has the opportunity to ask these chuckleheads about the front run on the markets
adirondacker
Sep 2013
#32
They need to learn not to fuck with Barney! He is the only one on the panel giving his
Dustlawyer
Sep 2013
#39
I am so glad to hear from Barney Frank again! Many happy years to him and his husband!
freshwest
Sep 2013
#41
Hank Paulson is a dirty, lying son--of-a-bitch, and deserves any pain that might come
jtuck004
Sep 2013
#51
perfect question, I'd like an answer from banks. "Why Are Bankers ‘Paying Themselves So Much'?
Sunlei
Sep 2013
#55
I also sent a letter to "Meet the Press" to remind them that they are a joke
mountain grammy
Sep 2013
#61