WASHINGTON (Reuters) - President Barack Obama said he doesn't "begrudge" large bonuses paid out to JPMorgan Chase & Co chief executive Jamie Dimon and Goldman Sachs Group Inc CEO Lloyd Blankfein.
Barack Obama
"I, like most of the American people, don't begrudge people success or wealth. That is part of the free-market system," Obama said.
Obama, in an interview with Bloomberg BusinessWeek, called the two "savvy businessmen." Although he said the pay packages for Dimon and Blankfein were "an extraordinary amount of money" for Main Street, he pointed out that some baseball players make more than that.
Goldman, which reported a record profit for 2009, announced last week it would award Blankfein stock worth about $9 million. Dimon is to receive a compensation package worth about $16 million.
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