President Barack Obama Calls Wall Street Bank Bonuses “Outrageous”

President Barack Obama has called Wall Street banking firms’ decision to pay out $18.4 billion in bonuses to employees “outrageous” and warned that such a decision would prevent the stabilization of the financial climate inside the U.S.

Those same institutions received billions in a government bailout package designed to prevent their collapse.

Obama’s reaction was expressed by White House spokesman Robert Gates as he addressed reporters on Thursday. Gates hinted that the Obama administration may look into the bonuses to determine if tax payer money was used for those payments.

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