Bank CEOs' Obama Meeting Spurs Talk of Togetherness

By Harry Kimball,  Newser Staff
Posted Mar 27, 2009 2:40 PM CDT
Bank CEOs' Obama Meeting Spurs Talk of Togetherness
Wells Fargo & Co. Chief Executive Officer John Stumpf, left, accompanied by US Bank Chief Executive Officer Richard Davis, speaks to reporters outside the White House.   (AP Photo)

CEOs of the nation’s largest banks today assured President Obama they understand their institutions are vital to economic recovery and pledged to do all they can to help the government, Bloomberg reports. Following today’s White House meeting, Wells Fargo’s CEO said “the basic message” of the powwow “is we’re all in this together.”

“We’re trying to do the right thing for America,” continued Wells Fargo’s John Stumpf. Chief Obama adviser Larry Summers acknowledged before the meeting that cooperation is necessary. “The country’s major financial institutions have a major role to play,” he said. These attitudes sit well with at least one former SEC chair, who said, “It’s terribly important that an environment of consensus replace the polarization of recent weeks.” (More Obama administration stories.)

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