2010-01-16
Biden Wants Back the Blank Check Obama and the Democrats Gave to the Banks Now That They Have Obamacare To Spend It On
I got an e-mail today from the Vice President (along with thousands of other people who subscribe to the "Organizing For America" mailing list). Here's a look at what's in the e-mail:
Yesterday, President Obama announced our proposed Financial Crisis Responsibility Fee on the country's largest banks:
"My commitment is to recover every single dime the American people are owed. And my determination to achieve this goal is only heightened when I see reports of massive profits and obscene bonuses at some of the very firms who owe their continued existence to the American people...We want our money back, and we're going to get it."
The fee would recover every penny loaned to Wall Street during the financial crisis and stop the reckless abuses and excesses that nearly caused the collapse of our financial system in the first place.
But the banking industry -- among the most powerful lobbies in Washington -- is already launching attacks to stop Congress from enacting the proposal.
Barack and I aren't backing down. But to win, we'll need the American people to add their voice right away.
First of all, let me tell you what's going to happen. They're going to get this money back and then say, "Wow! Look at this extra money we suddenly have! We can use this to pay for our healthcare takeover!"
But before that happens, I have a question. If you wanted the money, why the hell did you give it away in the first place? Don't get me wrong, I actually support the idea of the government taking the money it gave away back simply because I never wanted to see the money given away in the first place. Will it hurt the banks? Yes. Will it hurt the banks unfairly? No.
Again, the money should have never been given away in the first place. Everybody in the United States outside of the Democratic Party could have told you the money was going to be misused. In fact, most of us outside of the Democratic Party were kicking and screaming every step away of what was an act of corrupt corporate welfare. We said we didn't want them to give these people, many of whom played a direct role in the collapse of our economy, a blank check.
Yet, big surprise, the Democrats in the Congress and White House completely ignored us and, now that it's obvious that the plan was a waste of time and they need the money for something else, they're demanding the money back.
Everyone, on the count of three...
WE TOLD YOU SO!
The least Vice President Biden can do is offer an apology on the behalf of the White House for supporting such a half-witted idea. Just don't expect that anytime soon and settle for the joy of knowing your a better economist and market analyst than the President's top advisers who get paid millions of dollars to come up with idiotic ideas like giving corrupt banks billions of dollars in taxpayer money.
