March 29, 2009
US President Barack Obama met behind closed doors for more than an hour and a half with the chief executives of the largest American banks on Friday, reassuring the titans of finance that his administration has their best interests at heart.
[efoods]According to White House press secretary Robert Gibbs, the meeting’s agenda included the Obama administration’s “toxic asset” purchase program, proposals for regulation of the finance industry, and executive compensation.
Every aspect of the administration’s economic policy caters to the interests of the financial elite, of which the president is merely a mouthpiece. The private meeting at the White House had the air of a conspiracy against the public, a gathering to discuss carving up state resources in order to hand them over to the banks and major investors.
Among those attending were 13 CEOs and two banking industry lobbyists. The individuals gathered at the White House stand at the helm of companies that together control much of American finance. They played a significant role in driving the speculative orgy on Wall Street that has now collapsed, precipitating the greatest economic crisis since the Great Depression.
While no transcript of the discussions has been released (nor will there be), the bankers emerged very pleased. Their post-meeting comments included: