Obama to Bank Executives: 'You Don't Need Your Big Bonuses'

United States Democratic President-elect Barack Obama had some interesting things to say to bank executives in regards to their fat bonuses.

In a news interview set to air on ABC News on Wednesday, US Democratic President-elect Barack Obama had interesting words to say to the bank executives. Obama bluntly said that bank executives should sacrifice their big bonuses. Reuters reports that Obama said that by forgoing their bonuses, it shows the world that the bank executives are taking responsibility for their actions. “I think that if you are already worth tens of millions of dollars, and you are having to lay off workers, the least you can do is say, I’m willing to make some sacrifice as well,” Obama said in regards to the bank executives and their bonuses. He also criticized the CEOs of the top US automakers. The criticism was directed at the heads of the automakers taking private jets out to Washington D.C. requesting the US Congress to be added onto the massive bailout. Overall, Obama said that the bank executives should make sacrifices such as their bonuses. He adds that crisis affects all industries and not just the automobile industry. These are words coming from Obama and directed towards the bank executives. This could roughly be translated to: “You don’t need your big bonuses.”