To: longnshort who wrote (19201 ) 9/17/2009 5:47:52 PM From: Broken_Clock Respond to of 103300 From: NOW 9/17/2009 5:41:15 PM of 221170 These CEOs are, of course, busy people and no doubt many or all had good excuses and sent nice apology notes. But their collective absence is beyond remarkable. The President saved their jobs, bonuses, pensions and much more after he came in office; this was a gutsy call on his part and one that may still sully his legacy. And in this endeavor, the President represented both the Congress of the United States – for example, in deciding how to implement the Troubled Assets Relief Program (TARP) – as well as all taxpayers and every citizen. Usually, you have to stand in line for a long time to sit in the same room as the President of the United States. But not a single big bank CEO apparently had the time to show a little respect or gratitude, and to pay even lip service to better behavior in the future? More than any technical discussion of raising capital standards or tightening leverage ratios, this presumably uncoordinated failure to show up speaks volumes about current attitudes on Wall Street. The CEOs of our biggest banks have weighed the man and done the trade. They have no more use for this President, no fear for what he can do to them, and see no reason to show support. They have moved on – presumably back to whatever they were doing before the events of September 2008 so rudely interrupted. And their obvious presumption, contrary to the words and body language of the President on Monday, is that next time – when they need it – the representative of the taxpayer will be there for them again, with generous bailout packages and extraordinary kindness. By Simon Johnson