Leave your feedback Share Copy URL https://www.pbs.org/newshour/show/obama-lashes-out-at-wall-street-over-bonuses Email Facebook Twitter LinkedIn Pinterest Tumblr Share on Facebook Share on Twitter Transcript President Barack Obama lashed out at Wall Street Thursday over reports that executives collected more than $18 billion in bonuses last year as his economic stimulus package headed to the Senate for review. Kwame Holman reports. Read the Full Transcript Notice: Transcripts are machine and human generated and lightly edited for accuracy. They may contain errors. JIM LEHRER: President Obama took financial leaders to task today. And, fresh from a Democrats-only stimulus victory in the House, he pressed for a bipartisan approach in the Senate.Congressional correspondent Kwame Holman has our lead story report. KWAME HOLMAN: President Obama lashed out at Wall Street today over reports that executives collected more than $18 billion in bonuses last year, while some of their companies received billions of dollars in aid from the government. U.S. PRESIDENT BARACK OBAMA: When I saw an article today indicating that Wall Street bankers had given themselves $20 billion worth of bonuses — the same amount of bonuses as they gave themselves in 2004 — at a time when most of these institutions were teetering on collapse and they are asking for taxpayers to help sustain them, and when taxpayers find themselves in the difficult position that, if they don't provide help, that the entire system could come down on top of our heads, that is the height of irresponsibility. It is shameful.And part of what we're going to need is for the folks on Wall Street who are asking for help to show some restraint, and show some discipline, and show some sense of responsibility.The American people understand that we've got a big hole that we've got to dig ourselves out of, but they don't like the idea that people are digging a bigger hole even as they're being asked to fill it up.And so, you know, we're going to be having conversations as this process moves forward directly with these folks on Wall Street to underscore that they have to start acting in a more responsible fashion if — if we are to, together, get this economy rolling again.There will be time for them to make profits, and there will be time for them to get bonuses. Now is not that time. And that's a message that I intend to send directly to them, I expect Secretary Geithner to send to them.And, you know, Secretary Geithner already had to pull back one institution that had gone forward with a multimillion-dollar jet plane purchase at the same time as they're receiving TARP money.We shouldn't have to do that, because they should know better. And we will continue to send that message loud and clear.