I want to mention the issue of Wall Street and talk about public relations. There is no question that after what occurred, many of the folks on Wall Street could have used a public relations firm to help them. No question, the bonuses and things we saw, after getting taxpayer money to make sure they survived, no doubt that created a backlash. As a matter of fact, the Senator from Virginia and I are working on an amendment that would say, if this ever happens again and we have to take one of these firms through resolution, which is part of the Dodd bill right now, the bonuses and other types of things in recent years would all be clawed back. You cannot make huge sums of money, take your company down the tubes, and do things to America in that way without paying a price. We are working on something I think is balanced and appropriate, hopefully not populace but something that is thoughtful. If somebody takes their company down and wreaks havoc on our country, that will make us use this resolution mechanism. I think that is appropriate to look at.
Bob Corker: “I want to mention the issue of Wall Street and talk about public relations. There is no question that after what…”
Editor's note · Context
The speaker addresses the need for accountability on Wall Street following the financial crisis.
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