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Wall Street executives: your fancy drapes are history!

February 24, 2009 |  6:41 pm


6:30 p.m.: Supporting banks, loosening up the credit markets, says President Obama, is "not about helping banks, it's about helping people." And, he says, "we cannot afford to govern out of anger," a jab at those who would criticize his plan to help homeowners who have found themselves facing foreclosure due to their own bad decisions.

Obama strikes a populist note: "This time, CEOs won't be able to use taxpayer money to pad their paychecks or buy fancy drapes or disappear on a private jet. Those days are over."

Sacrifice is the name of the game, he says, "and that includes me," though it's not clear at all how Obama himself plans to sacrifice to help the nation get back on its feet.

-- Robin Abcarian

Photo credit: Nicholas Kamm / AFP/Getty