Posted on 01/15/2010 5:05:22 AM PST by Schnucki
“We want our money back,” Barack Obama has told US banks, announcing a levy on large financial institutions to help repay the notorious bailout he imposed last year. Oh, do “we”? And who gave away the taxpayers’ money in the first place, Mr President?
This pretended identification with Joe on Main Street is a favourite ploy of dodgy politicos with their backs to the wall – Wall Street, in this case, which is imminently expected to announce bonuses beyond the dreams of avarice, hence Obama’s nervous anxiety to be seen to be “doing something”. If Obama wants to see the taxpayers’ money repaid, that will take some doing, since the Tarp bailout cost America $700bn.
The new tax on top banks is expected to raise $90bn – over 10 years. So that is around $9bn a year. But Wall Street is poised to dole out $47bn in bonuses this year alone. If this is assumed to be a lean year, at a very conservative estimate bank bonuses are going to total $500bn over the 10 years that the Obama tax painfully claws back just $90bn for Joe Public. No wonder a financial strategist in New York has already described it as “petty theft from bank balance sheets”.
That is not very nice language. Since the purpose of this cosmetic exercise is to save the face of a President with minimal physiognomy still showing through the egg splattered over his features from just about every policy he has touched, we need a more user-friendly terminology. How about “Small change you can believe in”?
(Excerpt) Read more at blogs.telegraph.co.uk ...
So, um, the other night I was driving across Ohio (or maybe I was still in Kentucky at the time), and I remember hearing that Led Zeppelin song on the radio.
It was funny that the first thought in my head upon hearing that song was of the VKs.
But I kknow how it works with you guys: Any criticism of Bush or Republicans in general is seen as a defense of Obama and the Dems. So you go ahead.
As for being an Obama aplogist, perhaps you missed this:
Obama's Big Wall Street Sellout
Or any of the other posts where I criticize Obama's economic policies. Just because I don't give it up for the Republicans like a drunk prom date doesn't mean I support the Democrats. Frankly, I think both parties are worthless.
Screaming your blind adoration of the 0 louder does not change the facts that your original post demonstrated your complete ignorance of even the most basic facts on this issue 0-bot.
Well no surprise the 0-bots around here cannot be bothered to learn a single fact that might challenge their blind adoration of all things Obama.
What "blind adoration"?
your complete ignorance of even the most basic facts on this issue 0-bot.
What "basic facts"?
Bush's signature is on the bill. McCain's vote--in addition to Obama's--are on the record.
I'd say that puts them all to blame. Wouldn't you? Or would you just prefer to continue throwing ad hominems at me?
Obama's Big Wall Street Sellout
Don't know what your problem is. Don't care. Have a nice life.
bttt
bttt
Worthless is a complement to them. Republicans are only opposing democrats because they are in the minority and their voters are opposing democrats very strongly. If in power they would do the same thing they did before.
DDDfD will back me on this(maybe LOL) . Almost half the country wants even more handouts, but wants them with no bad effects (no deficits, no taxes on them personally and told they earned them) just like Obama promised. If a Republican was in charge, that would go up to > 60%.
Curious how you 0 whorhippers are never pissed that your god, Dear Reader, took that re-payed TARP money and promptly spent it on more handouts to his political cronies.
Rather then screaming your hyper ignorance over and over on thread after thread, you two might want to take some time and learn some basic facts before posting any more of your usual hyper ignorant bile laced posts.
People seem to forget that these banks employ tens of thousands of people who are not “fat cats”. They are just trying to make a day to day living like the rest of us. Over a million of the unemployed were bank/Wall Street employees who lost jobs, pensions, 401ks and stock options when those banks collapsed. Not everyone who works for a bank is a CEO. This tax is going to be passed on to us and will definetly keep the banks from hiring back those millions of lost jobs. Oh, and we ain’t seen nothin’ yet. Next will be the oil companies, health care industry, utilities and anything else he can get his dirty commie hands on. Zero is killing jobs, not creating them. It is the government who is stealing our money.
Just because something is repaid with interest does not mean the lending was proper in the first place.
The purpose of the Federal government is not to redistribute wealth, no matter how charitable or humanitarian the cause, and irrespective of whether the payment is made as a gift or a loan.
That doesn't change the fact that the TARP program was created by an Act of Congress, an Act to which George W. Bush acceded, judging by his signature on the bill.
But it is rather amusing to read your words--"screaming," "worshipers," "bots," "hyper ignorance." IMO, it is you who are screaming, and it is you who is actually ignorant of the facts.
You 3 stooges are so busy screaming your hysteric bile about Bush on every thread you did not even know the bulk of the TARP money had been repaid, with interest, and that your god, Obama, had turned right around and spent it.
So maybe instead of screaming the same hysteric ignorance on every thread, you 3 might try spending some time learning what is going on in DC for a change.
Utterly no excuse of the level of ignorance of basic political facts you three routinely display in your posting
It’s funny how Obama puts on a sympathetic front and says he wants the banks to pay back the taxpayers by putting a fee on these banks who were given TARP money. But what happens when these banks start having to pay these fees? Our interest rates go up. So basically Obama is screwing us twice. This guy doesn’t give a damn about us regular people.
Obama lied: He said when he gave out the money that tax payers had no risk because there was a payback plan with interest, yet, here he is claiming without this tax there is no payback plan. So, we paid the banks money in the first place and now we are to be taxed again for that money. We are paying twice. Yes, I know the tax is a “fee” to the banks but the banks are going to pass that tax on to us.
I don't think that's true for all Republicans, but I think McCain would be capable of that dubious accomplishment.
Yes, Rab's. If you object to republicans like Bush doing exactly what Obama is doing, you must be an O-bot. But Bush apologists like MNJohnnie who say: ‘Bush's central control of economy is capitalism, but Obama’s central control is communism’ are principled. And it's simple to remember too : D bad, R good. Get it???
When they say they paid it back, from where? What was the source of their profits? Where the hell does the constitution say Republican presidents get to decide which privately owned companies live and die?
Still waiting for one of you three 0-bots to explain why you are all in such hysterics at Bush for signing TARP but have yet to say one word about your god-let, 0bama, taking the re-payed TARP money and spending it.
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