Free Republic

With the ink of President Obama's signature on the Barney Frank-Chris Dodd financial reform bill barely dry, the next bank bailout already has begun. How can that be, you might ask? Weren't we promised that this "landmark" legislation would end bank bailouts? Weren't we promised that this legislation ushered in a new era of transparency on Wall Street? Could it be that the politicians lied to us? Say it ain't so - but it is. If this brings to mind the backdoor bailout of Wall Street banks by AIG, it should. At just these three big banks, the taxpayers are...

WASHINGTON (Reuters) - President Barack Obama on Saturday slammed Wall Street's "audacity" for fighting a bailout fee he wants to slap on financial firms and said his Republican opponents had sided with big banks. With Obama's popularity hovering around 50 percent and congressional elections in November, the White House wants to cast itself alongside ordinary Americans while branding Republicans as the party for the rich. "Like clockwork, the banks and politicians who curry their favor are already trying to stop this fee from going into effect," Obama said in his weekly radio and Internet address. "We're not going to let...