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US Bank President: “Get Over It!”

US Bank President: “Get Over It!”

The economic environment has seemed pretty unfair in the last few years.  The rich keep getting richer while everyone else struggles to find jobs, pay their bills and keep their homes.  Companies are cutting benefits, health care and food costs are skyrocketing.  CEO’s are receiving huge bonuses, even after they nearly failed and had to be bailed out by the government.

And U.S. Bank President Richard Davis has heard all that grumbling before.  His answer?

“Get over it!”

Addressing the a Minnesota Chamber of Commerce luncheon, Davis had harsh words for those he believed were whining about financial institutions making out like bandits while workers suffer.  Sure, they broke rules, Davis admitted.  But who didn’t?

Via City Pages:

The banker began his speech to the assembled fat cats by introducing the Boy Scout motto, “Be Prepared,” and Minnesota’s state motto, “Get prepared.”

That, Davis said on numerous occasions throughout the speech, was the key to making it through this recession. If it’s raining, he counseled, “get an umbrella.”

Davis commented on the economic woes facing the country, saying “fear,” “loss of faith,” and “uncertainty” were damaging American business. Davis called these feelings “really lame reasons to not get up in the morning.”

“Everybody’s breaking the rules, blah blah blah,” Davis said at one point, admonishing the assembled business leaders to “get over it.”

With banks making money when they sold bad mortgage-backed securities, then getting government bail outs, and now refusing to allow families a chance to recover from the housing crash,  are you ready to just “get over it?”

 

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118 comments

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12:45PM PST on Feb 5, 2012

Gee! Is this guy any relation to Mr. Bendy Romney who has publicly stated he does not care about the poor in this country?

7:51AM PST on Nov 9, 2011

Ya and I say get over it when you lose your job. They should moniter these banks who got the bail outs and keep them from spending money like it is water.

2:58PM PST on Nov 7, 2011

We DID get over it. WE moved out money out of your banks!!!!!

3:52AM PDT on Nov 5, 2011

They need to change the way bailouts work. If a workplace needs a bailout, it is probably due to mismanagement or embezzlement. Those responsible should have to pay back any bailout they get (out of their salaries and bonuses too) . I realize that without bailouts, people may lose jobs, however, rewarding crime or stupidity using taxpayer dollars is ridiculous.

11:42PM PDT on Nov 4, 2011

To set the record straight: "President George W. Bush signed the bill into law within hours of its congressional enactment, creating the $700 billion Troubled Asset Relief Program (TARP) to purchase failing bank assets."

http://en.wikipedia.org/wiki/Emergency_Economic_Stabilization_Act_of_2008

There has been so much mismanagement in government it is truly amazing that it received and continues to receive so little attention in the news.

Two items for your attention that led to our economic crisis:

http://en.wikipedia.org/wiki/Subprime_crisis_impact_timeline#1980.E2.80.931989

http://www.thirdworldtraveler.com/Corporate_Welfare/S%26L_Bailout.html

And that is only scratching the surface. Obama has tried and continues to try to put a stop to corrupt practices. His Financial Reform bill put new far reaching regulations in place which has made him many enemies.
Stop blaming him for what has been going on for the last 30 plus years.



9:35PM PDT on Nov 4, 2011

Maybe everyone he deals with, other bank CEOs and Corporate CEOs are breaking the laws but the majority of people do not. That is why people have lost faith in large banks and large corporations. Our only recourse is to move our money to responsible banks and credit unions and boycott products from those companies who put greed above responsible employment.

8:57PM PDT on Nov 4, 2011

I wonder if he is getting prepared for what happens tp people like him during a revolution?

8:17PM PDT on Nov 4, 2011

Nancy L. Obama bailing out big business is NOT for the sake of just the business but for the hundreds or thousands of people they employ. It is NOT so some greedy CEO gets to keep his ridiculous bonuses. There's already enough unemployment right now..

6:57PM PDT on Nov 4, 2011

he needs to get over it and accept that his taxes need and should go up. high risk gambling on wall street got us into this mess and we bailed these clowns out, im not going to get over it. i will fight till my last breathe.

5:30PM PDT on Nov 4, 2011

I have an account with BoA and even though my small business account with them would not have been affected by the $5.mo. fee for debit card use, I will, in solidarity with the 99%, move my account tomorrow to a local California credit union with the same services, no fees and as many ATM's as BoA. The way banks run their business model is a form of discrimination based on income. Accounts with huge balances pay no fees and receive interest; those with balances under $10,000 pay all the fees and earn no interest (the balance amount differs from bank-to-bank). Those for whom monthly fees are a significant percentage of monthly income are expected to pay for bank operations while those for whom these fees are a minor tax deduction get free banking services. What if the 99% "got over" the banks? What would happen if every person with less than $10,000 (or what ever the balance differential is for each bank) moved their money to a local credit union and left the banks to the 1%?

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