Wall Street executives were at the receiving end of the sharp criticism from President Obama on Thursday, for treating themselves to nearly $20 billon in bonuses, at a time when the economy has been marred by recession. 

In a fit of ‘controlled’ rage, Obama chided the executives and called the act “shameful.” The rebuke came after an amount of $18.4 billion was reported as bonus disbursement by the New York comptroller.

Talking to reporters, during an appearance with new Treasury Secretary Timothy Geithner and Vice President Joe Biden, Obama expressed his disapproval saying: “That is the height of irresponsibility. It is shameful.”

Obama also added that “there will be time for them to make profits and there will be time for them to get bonuses. Now’s not that time.” 

Even on his campaign trail, Obama had often rallied against gluttony of executive bonuses. Obviously, such an irresponsible act on the part of Wall Street executives called for some reprimand from the President. Obama asked the executives to “show some restraint and show some discipline and show some sense of responsibility.”

In his populist tenor, Obama discussed the need to bolster the country’s financial structure and the likelihood of seeking additional aid from the Congress over and above the already sanctioned $700 billion. Obama said that part of the new package, which could cost taxpayers $900 billion, is “for the folks on Wall Street who are asking for help!”