Obama's Speech to Wall Street at DNC Fundraiser Video

Obama asks Wall Streeters at the DNC fundraiser in NYC to go against their greedy nature. He asks them join in on regulatory reform instead of fighting it.

But we all know greed is a powerful thing and as long as Americans view material goodies, bigger houses and high salaries as success, it will always be the heart of our economy.
The financial industry is still rewarding itself with large bonuses, despite the fact that many can't retire because they lost everything. I'm sure social responsibility on Wall Street is a laughable, quaint notion.
On NPR's Fresh Air yesterday, New York Times writer Andrew Ross Sorkin details the greed. He has a new book called Too Big to Fail. Sorkin talks about what went on behind the scenes of the financial meltdown. He says history will say that our financial system was rescued from the brink.

Boxer Asks Paulson To Care

Sen. Barbara Boxer: If he can save the white-collar jobs, he can save the blue-collar jobs.

Paulson Agrees to Limit CEO Pay

Also note, George Bush is expected to "speak" at 6 pm for his photo op. 

NYT: WASHINGTON — President Bush will address the country on Wednesday night in hopes of bolstering public, and hence political, support for the economic recovery plan, one on which the administration is now willing to make a major concession on executive pay.

“The president believes it is important for the American people to fully understand the depths of the crisis affecting our country, how that affects them,” Dana Perino, the president’s chief spokeswoman, said. Mr. Bush will speak from the White House at 9 p.m. for 12 to 14 minutes, Ms. Perino said.

Meanwhile, Treasury Secretary Henry M. Paulson Jr. had agreed to demands from lawmakers in both parties to limit the pay of executives whose companies benefit from the bailout. The enormous pay packages of some Wall Street executives, coupled with the realization among nonwealthy Americans that the crisis could affect their financial foundations, have created an incendiary issue on Capitol Hill.

“The American people are angry about executive compensation, and rightfully so,” Mr. Paulson told the House Financial Services Committee. “Many of you cite this as a serious problem, and I agree. We must find a way to address this in legislation without undermining the effectiveness of the program.” Read more