Here is what I think they don’t get…It was their irresponsible risk-taking in many cases that brought the economy to collapse.
And they don’t get in some cases that they wouldn’t be where they are today, and they certainly would not be paying the bonuses they are paying today, if their government hadn’t taken extraordinary actions.
December 13, 2009
White House economic adviser referring to the banking industry. He also chairs the National Economic Council.
White House Lashes Out at Bankers
[In the first sentence he hopes you won’t get it was Federal regulations which required irresponsible risk-taking. In the second sentence he hints that he knows this is true and that the U.S. government rewarded that same behavior.
If you think the government knows what it is doing in terms of the economy then you need to do more reading or if pictures and minimal words are all you are up for then check this out (via Linoge and John Lott):