During Obama's Town Hall meeting today, the President took a question from a hedge fund manager, Anthony Scaramucci of SkyBridge.

The two of them start off by pal-ing around. Scaramucci clearly surprised Obama by making a joke.

Obama: Great to see you.

Scaramucci: Actually I went to law school with you back in the day.

Obama: You've done very well! Congratulations, that's great.

(Laughter in the audience)

Scaramucci: And if I fouled you on the hoop court - it wasn't intentional.

Obama: I remember that!

Scaramucci: You would remember if I fouled you - I've got a low center of gravity.

Then Scaramucci says he and everyone on Wall Street is feeling like a "pinata" lately and it starts going down hill. Soon the pair are fighting each other to make their arguments heard by the audience.

Scaramucci: "So, first question, when are we going to stop whacking at the Wall Street pinata?"

Obama: I have been amused by this sense of me beating up on Wall Street. I think most folks on Main Street think they got beat up on.

(Applause in the audience)

Then Scaramucci tries to engage him again and the President refuses to let him back in the conversation.

Scaramucci: But -

Obama: Hold on a minute, let me finish.

Obama: And there's probably a big chunk of the country that thinks I have been too soft on Wall Street - that's probably the majority, not the minority.

Scaramucci: Yup. But -

Obama continues -

Obama: Over the past two years, there have been times when I've been frustrated - like when the top 25 hedge fund managers each took home $1 billion or something like that.

Then he ends the discussion by saying, I respect [hedge fund managers] and their business acumen. So ultimately, Obama gets the last word.