Obama to 'Fat Cat Bankers': Time to Start Lending
By JAKE TAPPER and DEVIN DWYER, ABC
In a face-to-face meeting with the country's leading financial executives at the White House today, President Obama insisted that the nation's banks do more in "every responsible way" to increase lending to consumers and small businesses and help repair the U.S. economy.
"Given the difficulty business people are having as lending has declined and given the exceptional assistance banks received to get them through a difficult time, we expect them to explore every responsible way to help get our economy moving again," Obama
said.
The 90-minute summit, involving discussions on small business lending, loan modifications, executive compensation and financial regulatory overhaul, comes as the president grapples with swirling economic discontentment, high unemployment and tight credit markets.
Obama met with the banking executives earlier this year and warned them that he was the only one standing between them and "the pitchforks."
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