Obama Cool With Bonuses

President Obama seems to have softened on “fat cat bankers” and their irresponsible, value-violating bonuses.

“I, like most of the American people, don’t begrudge people success or wealth. That is part of the free-market system,” Mr. Obama said in an interview with BusinessWeek yesterday.

Last week, CEOs Lloyd Blankfein and Jamie Dimon took home $9 million and $17 million bonuses, respectively. Fat cats? “I know both those guys; they are very savvy businessmen,” Mr. Obama said.

The cooler rhetoric comes at the same time Democrats are trying to keep big banks from giving it all to Republicans, and preventing guys like Jamie Dimon from having any more drinks with guys like John Boehner.

Obama Cool With Bonuses