President Barack Obama plans to meet with about a dozen of the U.S.’s top banking chiefs in an unusual gathering designed to discuss the administration’s plans to shore up the financial sector. Attendees are expected to include Goldman Sachs, J.P. Morgan Chase and Citigroup. The meeting comes as relations between Washington and Wall Street are frayed following last week’s furor over bonuses paid to American International Group employees.
This is like a U.S. President sitting down with the James Younger Gang or Al Capone, or Bernie Madoff. It gives the imprimatur of the U.S. Presidency and the aura of respectability that implies, to some of the the worst white-collar thugs in our nation’s history.
I think this meeting also confirms just how much prestige has already been drained from the office of the Secretary of the U.S. Treasury. These guys are tight as thieves with Summers and Geithner, who have zero credibility.
Instead of tarnishing the Obama Administration and the reputation of all future U.S. Presidents, these guys should be in orange talking to their lawyers through glass partitions.
I sure hope someone has a less negative interpretation of this.