December 9th, 2009
12:02 PM ET
9 months ago

Obama to meet with bank CEOs

New York (CNNMoney.com) - President Obama will meet with the chief executives of several big banks next week, in an effort to help spur greater lending to consumers and small businesses, two senior White House officials told CNN Wednesday.

The president is also expected to discuss the sweeping financial regulatory reform package that the administration is currently trying to push through Congress during Monday's scheduled meeting.

Officials said that the list of attendees has not yet been finalized, but that it is likely that executives from some of the nation's biggest banks will be present.

The extent to which banks have been willing to lend has remained a focal point for Washington, after the U.S. government pumped billions into the banking sector over the past year in an effort to get the economy back on track.

Consumers and small businesses in particular contend that loans are still tough to come by. Banks maintain that they are lending even as the appetite for new loans has dropped off.

News of Monday's meeting comes just a day after President Obama proposed redirecting a certain portion of bailout money left over from the Troubled Asset Relief Program to help create jobs and provide aid to Main Street consumers and businesses.

–Ed Henry, CNN's senior White House correspondent, contributed to this report


Filed under: President Obama
soundoff (55 Responses)
  1. REG in AZ

    I don't think anyone doubts that no matter what the Democrats propose, without regard for value, the current Republican mindset is to always aggressively criticize and try to block it. That is a real shame and absolutely disgusting as it lacks any constructive or honest benefit. We really could use some sincere bipartisan cooperation to fine tune efforts and to focus on resolving problems, without their being totally and only focused on the politics. Those who concentrate just on winning at politics, regardless of party, are being dishonest and irresponsible and should be strongly rejected; no matter what they say, it simply is always in their interests and without regard for the costs. The trick is to see through all of their deceptive appeals to our biases, prejudices and emotions and to avoid being manipulated.

    December 9, 2009 01:18 pm at 1:18 pm |
  2. Joseph-Ohio

    While he is meeting with those crooks, how about he picks up a big fat re-payment check to Americans......The bail-out is over. Time for the scum (I mean Bankers) to pay the American people back!

    December 9, 2009 01:19 pm at 1:19 pm |
  3. Ben in Fort Wayne, IN

    So he can give them more cash.

    December 9, 2009 01:21 pm at 1:21 pm |
  4. C. Farrell, Houston, Tx

    Banks lending practice also need to be reviewed with scrutiny because they are always too willing to lend to the rich at a lower rate than working class Americans.

    December 9, 2009 01:22 pm at 1:22 pm |
  5. Buyers Remorse

    Do you think these guys care what BO says to them? He has proven to be an empty suit away from his teleprompter pre-prepared socialist speeches.

    December 9, 2009 01:22 pm at 1:22 pm |
  6. Bank Meeting

    Orginally scheduled to be broadcast by C Span, the meeting with Bank CEO's will now be held at Camp David under tight security and and a total press black out. O'bama's campaign fund raising team will attend the meeting.

    December 9, 2009 01:24 pm at 1:24 pm |
  7. Jenn, Philadelphia

    This man spends 10 months telling everyone profit is bad, corporations and banks are evil and now that he needs their help, he's surprised their less than anxious.

    December 9, 2009 01:25 pm at 1:25 pm |
  8. james Miller

    When they allowed banks to also become investment/brokerage houses, they essentially let the fox into the henhouse. -– And we all know what happened!!!!!! We need to shut the door,again and separate them. This would force the banks to be banks again.

    December 9, 2009 01:30 pm at 1:30 pm |
  9. Cheney and Armey are a couple of Dicks

    I hope they will be able to get a job for the idiot in Iowa who is unemployable and blames Obama.

    December 9, 2009 01:31 pm at 1:31 pm |
  10. Eric in Denver

    I am sure he will give him more of our money. This guy never met a penny of ours that he wasn't willing to blow. All you nuts call Cheney a crook this guy is truly robbing all of us

    December 9, 2009 01:38 pm at 1:38 pm |
  11. J.P.

    File this one under "Things Obama blathers about, yet doesn't really understand."

    The government cannot create jobs.

    It can only stand in the way of the private sector creating them. How?

    Very simple... what idiot of a business owner or manager would hire right now? Not knowing what the government is going to do next?

    Only a fool would hire or expand his business in this environment with this administration simply waiting for the day when it can impose a 100 percent profits tax... any profits from any and all businesses shall go to the government.

    If you honestly think that's not the goal, you're dumber than I assumed and have no business casting a ballot.

    Say what you want about those "eeeeeeeevil" businesses and corporations... but I've never once been hired by a poor man.
    Have you?

    December 9, 2009 01:42 pm at 1:42 pm |
  12. Sniffit

    You know, it's getting really tiring listening to people call the Cheneybot "Darth Vader."

    Did you not see the movies? Darth Vader redeems himself in the end by throwing the Emperor (Senator Palpatine) down a massive space well. Unless the Cheneybot starts chucking GOPer Senators down wells, I'm sticking with "Darth Vader" being a poor analogy...because this mockery of a man truly is unredeemable.

    December 9, 2009 01:45 pm at 1:45 pm |
  13. Charlene

    Everything in America is a scam. Banking, credit cards, insurance and the list goes on and on. American has become the pitfall for all scams. Shame.

    December 9, 2009 01:47 pm at 1:47 pm |
  14. Keith

    You can't trust a banking CEO period.

    December 9, 2009 01:48 pm at 1:48 pm |
  15. keith in ky.

    He can meet with all the bank officials he wants, as long as his anti-capitolism policies are pushed no small buisness is going to want to borrow any money!!!

    December 9, 2009 01:48 pm at 1:48 pm |
  16. mjm

    skrew these meetings and the pompous speeches!!

    I liked what Dick Cheney said on Fox earlier – GOP is going to win in 2010 and Palin in 2012.

    Doom this administration and this nation.. I'd like the country to FAIL in every aspect (in Afghanistan, Economy, Jobs etc) so GOP can win – Hurray!!!

    December 9, 2009 01:54 pm at 1:54 pm |
  17. keith in ky.

    By the way there is no money "left over" the TARP program is a line of credit, more lies– more deficit spending!! The U.S., the worlds biggest debter nation and still climbing, brought to you by Obama.

    December 9, 2009 01:54 pm at 1:54 pm |
  18. mjm

    This is a little off subject, but I heard from a senior yesterday who was concerned about making her Medicare payments. Apparently, in 2004 her premium was $58/month....now it’s over $100. Almost doubled in 5 years...and that's with government control.

    Bottom line is insurance premiums go up whether it's a private plan or government run plan. A public option will do nothing to change this.

    December 9, 2009 01:57 pm at 1:57 pm |
  19. lovable liberal

    The banks have been determined to continue to act with our money in their own interests, not in the interest of the economy as a whole. Of course! Our government let them, even encouraged them indirectly to hoard our money for investments to benefit themselves.

    We should have taken over more of the TARP recipients. They were insolvent; the law called for them to go into receivership. Then the FDIC could have run them in the national interest and sold them or their assets when possible.

    December 9, 2009 01:58 pm at 1:58 pm |
  20. Idiot_Pelosi

    Here we go again.....

    Ah Lah Barney Frank,
    The GOVT will put pressure on banks to give loans to people who don't qualify or are marginal at best, then the banks do it, these people default, then we are back to square one with more bailouts.

    Nice Plan OBUMMER.

    December 9, 2009 01:59 pm at 1:59 pm |
  21. Slider

    I'd like to see more CEOs in Obama's cabinet as opposed to the centralized planning buffoons that make up 92% currently.

    How's that stimulus working out for ya, Dems?

    December 9, 2009 02:02 pm at 2:02 pm |
  22. gt

    the tax payers saved the banks.... and now...... they are leaving us out to dry.....if the dont start lending and the government keeping jobs here this economy will stay depressed for years to come....

    December 9, 2009 02:10 pm at 2:10 pm |
  23. Greg, MN

    Lets see he will try to strong arm banks into making loans to people and small businesses that are considered risky because its for the good of the economy and to not do it would be racist.

    Clinton did this to Fannie Mae, then Dodd and Frank did the same when THEY IGNORED BUSH'S WARNIING TO THE BANKING COMMITTEE TO REIN IN FANNIE MAE.

    Earth to Obama butt out of the private sector with your economic destruction plans, health care radicalization bill, and your climategate Cap and Tax Bill.

    December 9, 2009 02:11 pm at 2:11 pm |
  24. joe smith

    wonder if those tarp grabbing bailout grabbing bankers know where the FREDDIE MAC REPORT is.. we know CNN doesn't..and the real shame, the American people don't have a clue either..thanks to a non-existing govn't, and their buddies in the media who keep what's essencial from them..

    December 9, 2009 02:13 pm at 2:13 pm |
  25. www.circleparkforum.com

    Between Obama and the bank CEOs, I wonder if there will be anyone in the room thinking of the best interests of the American people.

    Sorry, but after the White House lauded the Senate Democrats for totally failing us, I'm a bit down on Obama today.

    Meanwhile, in the House, Democrats like Rep. Melissa Bean (D-IL) are trying to undermine the creation of a Consumer Financial Protection Agency.

    Dude, where'd my party go?

    December 9, 2009 02:15 pm at 2:15 pm |
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