WASHINGTON (Reuters) - President Barack Obama believes the multibillion-dollar bonuses that Wall Street banks awarded themselves for 2008 are “outrageous”, White House spokesman Robert Gibbs said on Thursday.
The New York Comptroller reported this week that Wall Street firms paid out $18.4 billion in bonuses to employees, despite receiving multibillion-dollar payouts from the government to save them from collapse in the face of the worst financial crisis in decades.
Gibbs told a news conference that Obama had a one-word reply when he heard of the reports: “outrageous”.
Reporting by Ross Colvin; Editing by James Dalgleish
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