Obama Calls $18B in Wall St. Bonuses "Outrageous"
Published Jul 14, 2009 at 7:54 AM
WASHINGTON — President Barack Obama's called the more than $18 billion in bonuses that went to Wall Street employees last year "outrageous."
Obama will have more to say about the payments after an Oval Office meeting later Thursday with his new treasury secretary, Timothy Geithner.
The $18 billion-plus figure came from a report by the New York state comptroller about bonuses paid by the securities industry to its New York City employees last year.
White House press secretary Robert Gibbs told reporters about Obama's reaction to the payments. Obama has said financial companies that have accepted federal bailout money should limit bonus pay.
Copyright Associated Press