Obama To Meet With Those "Fat Cat Bankers" Today
December 14, 2009
Headline Alert
Political Update: Obama Meets with the “Fat Cat Bankers”
President Obama will meet with the CEO’s of the nation’s 12 major banks today at the White House – a group he referred to as “fat cat bankers” on CBS’s “60 Minutes” on Sunday night.
According to the Washington Post, Obama will basically repeat a message delivered at a similar meeting in March: Make more loans, and accept greater regulation. Obama is also expected to urge the bankers to open up lending for small businesses and homeowners and will also discuss financial services reform.
StreetAccount notes that Obama is expected to tell the CEOs to send a signal to loan officers that they will not be rewarded for denying loans.
Reports also suggest that the President will ask the banks to move in the direction of increased stock-based compensation.
The bankers are not expected to present any specific industry plan, but will likely discuss their organizations’ plans to help small businesses.
Today’s meeting comes after President Obama said on “60 Minutes” last night that he did not run for office to be helping out “a bunch of fat-cat bankers.”
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