Obama summons CEOs to White House for 'summit'
Wednesday, 16 December 2009
From Fazle Rashid
NEW YORK, Dec 15: President Barack Hossain Obama had summoned CEOs from country's top 12 financial institutions to the White House for a " summit of a sort " and asked them to revive lending immediately now frozen, to small businesses and homeowners to resurrect the economy. The response from the banks was positive.
A chorus in now renting the air in America asking President Obama not to visit Copenhagen. The demand being led by Sarah Palin, vice-presidential nominee in the last presidential race is for fixing the national economy first and the global warming issue later.
Imagine the White House meeting with top financial executives failed to have a " full house " audience. The CEOs from Goldman Sachs, Morgan Stanley and Citigroup could not attend. They were caught at the airport by a dense fog as they were taking commercial flights to go to Washington. Chief Financial executive from PNC drove to Washington from Pittsburg in his own car stopping at a wayside sandwhich outlet Wendy's for a bite. CEO of American Express travelled by AMtrak, private railway. The only CEO who used private executive jet was from JP Morgan Chase.
Last time many bank CEOs needing bailout fund used private jets to go to Washington and was jeered on the Capitol Hill. The CEO did not raise the question of the recent legislation providing for government regulations on reckless banks
America's banks received extraordinary assistance from the American taxpayers to rebuild their industry and now that they are back on their feet , we expect an extraordinary commitment from them to help rebuild our economy, the New York Times quoted the President as saying. He added ultimately in this country we rise and fall together, banks and small businesses, consumers and large corporations, the same paper said.
NEW YORK, Dec 15: President Barack Hossain Obama had summoned CEOs from country's top 12 financial institutions to the White House for a " summit of a sort " and asked them to revive lending immediately now frozen, to small businesses and homeowners to resurrect the economy. The response from the banks was positive.
A chorus in now renting the air in America asking President Obama not to visit Copenhagen. The demand being led by Sarah Palin, vice-presidential nominee in the last presidential race is for fixing the national economy first and the global warming issue later.
Imagine the White House meeting with top financial executives failed to have a " full house " audience. The CEOs from Goldman Sachs, Morgan Stanley and Citigroup could not attend. They were caught at the airport by a dense fog as they were taking commercial flights to go to Washington. Chief Financial executive from PNC drove to Washington from Pittsburg in his own car stopping at a wayside sandwhich outlet Wendy's for a bite. CEO of American Express travelled by AMtrak, private railway. The only CEO who used private executive jet was from JP Morgan Chase.
Last time many bank CEOs needing bailout fund used private jets to go to Washington and was jeered on the Capitol Hill. The CEO did not raise the question of the recent legislation providing for government regulations on reckless banks
America's banks received extraordinary assistance from the American taxpayers to rebuild their industry and now that they are back on their feet , we expect an extraordinary commitment from them to help rebuild our economy, the New York Times quoted the President as saying. He added ultimately in this country we rise and fall together, banks and small businesses, consumers and large corporations, the same paper said.