Mayor Bloomberg is Strongly Against Obama’s Banking Plans

Mayor Bloomberg is among the many haters of President Obama‘s plan to change the size of banks. Bloomberg said it would result in a loss of jobs and would hurt the city, and asked that New York’s congressional delegators stand up to the administration.”It’s a careful balance. You can’t say do nothing because we all know the banks made mistakes, but you can’t be so draconian that you cause job loss or make the institutions not function properly,” said Senator Schumer.

“I just find it sort of ironic that congressmen, senators who make more than double what the average person working in finance makes — they’re the rich ones and they’re talking about trying to restrict bonuses and taxing the industries that are our lifeblood,” Bloomberg said. “Maybe we should hold back their salaries for a decade or so and see whether the laws they pass work out.”

Via: NY Mag