Obama discusses credit cards and puts staff to sleep

By Jimmy Orr / April 23, 2009

White House National Economic Council Director Larry Summers nods off while President Obama talks to the press after a meeting with officials from the credit card industry. CEOs from Visa, Mastercard, American Express and the credit card divisions at about a dozen of the largest banks were invited to speak with Obama about high fees and predatory lending practices.

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Sometimes President Obama is just bo-o-o-ring.

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Don't believe it? Ask Larry Summers, the president's top economic adviser.

The two appeared together this afternoon in the Roosevelt room following a meeting with credit card executives.

It didn't take long for the president to speak before Summers zonked out. In fact, it was almost as though the sound of Obama's voice put Summers to sleep -- instantly. The White House pool report provides the play-by-play.

"One thing to note is that Summers appeared to be nodding off near the beginning of Obama's remarks. And then he DID nod off, doing the head on the hand and then head falling off the hand thing. Photogs seemed to be having a field day. All other officials in the room appeared fully awake."

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What was President Obama talking about? Don't know. We fell asleep reading the pool report.

Thankfully, Monitor colleague Ron Scherer is still awake. He tells us that the president told the head honchos of several credit-card companies that he wants them to change their ways -- as in more competition, simpler cards, non-abusive interest rates and fees, and tighter monitoring of credit card companies.

Click here to read his story. We're going to bed.....

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