The Obama administration indicated Monday that it will not unveil new measures to aid the financial services industry this week, but will instead move on the issue of Wall Street bonuses and executive compensation.
As you probably remember last week the President chastised bank executives for taking $18 billion in bonuses at a time when the financial system is on the verge of collapse.
"That is the height of irresponsibility. It is shameful," Obama told reporters.
White House spokesman Robert Gibbs said: "We're not going to be able to do what is needed to be done to stabilize our financial situation if the American people read about this type of outrageous behavior."
Fast Money readers have a few thoughts on the issue. Rita from Nebraska writes, "I am intrigued by the talk of limiting executive pay. Yes, it is outrageous by most people's standards, and, yes, if the corporation took taxpayer money to get them out of the bind they put themselves in, by all means they should be reprimanded."
John S. adds, "As an unemployed executive I feel any company that's taking our money (a bail out loan)should not be paying out any bonus's to anyone starting with the CEO."
And that leads to our Fast Money Reader Poll. Do you think that bank executives who use TARP money and collect a bonus are demonstrating 'the height of irresponsibility'?
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CNBC.com with wires