Obama on Banker Pay

President Obama, who back in December was denouncing bankers as fat cats and suicide bombers and only weeks ago was denouncing them as "selfish" and their bonuses as "obscene," now tells Bloomberg Businessweek in an interview that he doesn't mind the money that the chief executives of Goldman Sachs and JPMorgan Chase are making: "I, like most of the American people, don't begrudge people success or wealth. That is part of the free- market system." We flagged this reversal originally back on February 5. We'll see if it holds or if it's just related to what audience Mr. Obama is addressing or what his political needs are at the time.