President Obama told bank CEO's, "My administration is the only thing between you and the pitchforks." Considering the way he has whipped the public into a frenzy over CEO bonuses and pay, President Obama is the one handing out the pitchforks. This is an old management technique. Create a crisis and convince people you are the only person who can be the rescuer. This is a power play used by people who lack leadership skills.
Obama to bank CEOs: 'My administration is the only thing between you and the pitchforks'
By Eamon Javers
The bankers struggled to make themselves clear to the president of the United States.
Arrayed around a long mahogany table in the White House state dining room last week, the CEOs of the most powerful financial institutions in the world offered several explanations for paying high salaries to their employees - and, by extension, to themselves.
"These are complicated companies," one CEO said. Offered another: "We're competing for talent on an international market."
But President Barack Obama wasn't in a mood to hear them out. He stopped the conversation, and offered a blunt reminder of the public's reaction to such explanations. "Be careful how you make those statements, gentlemen. The public isn't buying that."
"My administration," the president added, "is the only thing between you and the pitchforks." (excerpt) read more at twincities.com