Obama Town Hall: Small banks and love-struck teachers with pink slips

Orange County has always been a place where entrepreneurs go to get rich, or go after they get rich, so a question from a woman who works in a local bank that makes small business loans was not surprising.

She wanted to know whether President Obama could essentially get regulators off her back so she can make the loans her community needs. (She does not work for a bad bank, she hastened to add, nor has her bank accepted federal bailout funds.)

Obama told her she made "an excellent point," then recapitulated her somewhat complicated question for the audience. "A lot of smaller banks that did not act irresponsibly, that were not involved in some of the weird financial instruments that didn't work ... that are not paying out $100 million bonuses. You don't look like you got a $5-million bonus," he said to her. (Ouch, that was awkward. He didn't mean it that way.)

He told her the White House has just announced a program that will allow the Treasury to buy loans directly from community banks to free up capital so they can make small business loans again. He directed her to the White House website for more information.

Someone asked about illegal immigration, but this is the moment our TV channel went to commercial, so all we can tell you is he seemed to be reiterating his oft-stated position that border security is important but dealing with illegal immigrants who are already here has to be done "in a humane way."

When it was time for the next question, Obama said: "It's a girl's turn; it's a lady's turn." No one spoke.

"Somebody with a mike, just go find somebody," he said.

A teacher from Santa Ana said she got her "RIF notice." (That's a "reduction in force" notice.)

Obama: "A pink slip!"

Teacher: "I'm so nervous. Thank you for coming."

Obama: "You're doing great."

Teacher: "I just love you."

She calmed herself long enough to ask how he planned to retain good teachers, given the fact that in her district, the teacher of the year just got pink slipped too.

Obama assured her there is money going to the states for teacher retention, school construction and innovation. "But," he said, "the biggest chunk is for teacher retention."

He mentioned that "your school superintendent is here." Maybe it was for the best that he did not mention California Superintendent of Schools Jack O'Connell by name, since the crowd erupted in scattered boos.

-- Robin Abcarian

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Photo: Bryan Chan / Los Angeles Times

Comments

[John]

The White House has released its official portrait of First Lady Michelle Obama. In the portrait, Mrs. Obama is wearing a sleeveless black dress designed by Michael Kors. (PHOTO http://www.inquisitr.com/18949/michelle-obama-portrait/) There is information that Mr. Obama and Mrs. Obama met on http://flings.co.cc/

[Maria Gonzales]

First i want to thank The President for taking the time to attend to all matter:

As far as the Teachers yes they are letting go of some Great Teachers, but at the same time what is not told is that some Superintendents (CHINO VALLEY UNNIFIED SCHOOL DISTRICT) want to not only lay off teacher but also want to CLOSE 3 schools. Chino Valley Unified school district Superintendent has made it clear that "due to cuts from the Government we can not keep schools open" what next to close. Schools are the Last place money should be taken away from. If this happens I fear for all children.