Obama: “The people on Wall Street still don’t get it”

While watching an episode of American TV show 60 Minutes, I couldn’t help notice President Obama’s comments on the recent financial situation and who is responsible for the “mess”.

Given how fast the huge banks and corporations seem to have recovered from this downturn, I can completely understand what Obama is thinking when says “The people on Wall Street still don’t get it.” Because really, there are still 10% of Americans unemployed (which is huge), yet the “people on Wall Street” (big banks, etc) are already back to making insane bonuses of $20 Million a year!

I was able to find the part in the interview where Obama expresses his biggest frustration and really exposes the situation. Here’s the 2-minute clip:

Obama’s main point here is that the banks are still “puzzled” about why people are angry with them. The US President explained simply, why everyone would be annoyed:

“Well, let’s see. You guys are drawing down $10, $20 million bonuses after America went through the worst economic year that it’s gone through in decades, and you guys caused the problem. And we’ve got ten percent unemployment. Why do you think people might be a little frustrated?”

You can watch the full interview on 60 Minutes from the CBS website here.

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