December 2024

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technofeudalism:

A screenshot of an article that reads: Arrayed around a long mahogany table in the White House state dining room last week, the CEOs of the most powerful financial institutions in the world offered several explanations for paying high salaries to their employees — and, by extension, to themselves. “These are complicated companies,” one CEO said. Offered another: “We’re competing for talent on an international market.” But President Barack Obama wasn’t in a mood to hear them out. He stopped the conversation and offered a blunt reminder of the public’s reaction to such explanations. “Be careful how you make those statements, gentlemen. The public isn’t buying that.” “My administration,” the president added, “is the only thing between you and the pitchforks.”ALT

i might be telling on myself regarding my age but i’m old enough to remember when Obama said this to the bank CEOs back in 2009 and i’m beginning to think he didn’t appropriately communicate the stakes. they’d probably take the pitchforks at this point given the potential alternative.