Tuesday, October 20, 2009

How sharper than a serpent's tooth it is to have a thankless bank!

When you give money to someone, it had better be from pure altruism because the isn't a whole lot of thank you left on this planet.
The Wall Street giants that received a financial lifeline from Washington may have no compunction about paying big bonuses to their dealmakers and traders. But their willingness to deliver “thank you” gifts to President Obama and the Democrats is another question altogether.

Mr. Obama will fly to New York on Tuesday for a lavish Democratic Party fund-raising dinner at the Mandarin Oriental Hotel for about 200 big donors. Each donor is paying the legal maximum of $30,400 and is allowed to take a date. Four of the seven “co-chairs” listed on the invitation work in finance, and Democratic Party organizers say they expect that about a third of the attendees will come from the industry.

But from the financial giants like Goldman Sachs, JPMorgan Chase and Citigroup that received federal bailout money — and whose bankers raised millions of dollars for Mr. Obama’s election — only a half-dozen or fewer are expected to attend (estimated total contribution: $91,200).
Forget all those lame excuses about appearences (bonuses anyone?), they just want to make sure Obama understands how much they want a toothless, useless bank regulatory bill. And they will probably get it.

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