White House Splits Hairs on Wall Street Bonuses

'Don't begrudge' line taken out of context: aides
By Rob Quinn,  Newser Staff
Posted Feb 11, 2010 3:20 AM CST

The White House is in damage control mode after President Obama told a Bloomberg interviewer yesterday he didn't begrudge Wall Street bankers their bonuses. He also noted that Wall Streeters don't make as much as star baseball players. The quotes were overplayed to make it seem like he approved of massive bonuses, aides tell the Huffington Post, when the president was merely saying that he didn't fault anyone for their success.

Obama "also expressed 'shock' at the size of bonuses and made clear that there are a number of steps that need to be taken to change the culture of Wall Street," said a White House spokesperson. The president has made similar comments about not begrudging the wealthy their success many times before without being accused of having gone soft on Wall Street, aides note.
(More executive compensation stories.)

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