When President Obama welcomed the chief executives from 13 of the nation?s biggest banks to the White House last Friday, White House Press Secretary Robert Gibbs billed it as a ?good, productive, and frank? conversation. Emphasis, it appears, on the frank. As first reported by Politico?s Eamon Javers, and confirmed by ABC News with industry sources, some bankers gave explanations for the industry?s high salaries, such as "competing for talent on an international market." But, President Obama cut them off. "My administration is the only thing between you and the pitchforks," the president told them.
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