Posted on 01/16/2010 3:34:14 AM PST by Cheap_Hessian
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 Wall Street take the money and run. We're going to pass this fee into law," Obama vowed after proposing a levy to raise up to $117 billion over the next 10 years to recoup projected losses on a taxpayer bank bailout.
A number of the banks have already repaid capital they received under the $700 billion bailout, called the Troubled Asset Relief Program, which was conceived in 2008 by Obama's predecessor, Republican George W Bush.
(Excerpt) Read more at reuters.com ...
Thank God that your sweetie met YOU and now knows and has embraced that TRUTH about liberalism/Democrats, etc.
I have been trying for three years to convince coworkers and family that when the Dems took over Congress in 2006, that is when the economy started to nosedive.
Until then, During the Bush administration plus Repub majority in Congress, we had steady economic growth and low unemployment, low interest rates, and low inflation.
Do you have any corroborating evidence that I could use to support this argument that continues today (because these same friends/family still believe it is the evil Bush administration who brought our economy to its present dire state - which now, of course, has green shoots thanks to Obama....) Such as what measures the Dems took on Congress that brought immediate bad results (besides the Fannie Mae/Freddie Mac crimes that were going on).
Thanks in advance.
They are coming for our 401s.
Oh - nice site - thanks!
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.Two words: George Soros.
That is a GREAT site.
On the right side of the page, he has organized his columns by topic, so you can go back and read his predictions TWO YEARS back!
Just Lori does a nice job of posting them on FReepers for us, too!
Oh - thanks for that tip also.
Yes I usually read Just Lori’s posts...thanks to Just Lori too.
Oh - thanks for that tip also.
Yes I usually read Just Lori’s posts...thanks to Just Lori too.
“Two words: George Soros.”
OH my - in my conversation with coworkers referenced above that name came up.
I said to my NPR brainwashed coworker friends, do you even know who George Soros is???? (after saying Soros is one of the prime contributors to NPR their primary source of news).
They had NO CLUE!
(That plus the rest stated above is what brought out my comment to them about how ignorant they are!!!)
On that note, see my tagline.
America does NOT need a new contract. The old one is fine.....the Constitution! All the GOP has to do is adopt and follow it!
NYC Mayor Bloomberg said the ‘fees’ on the banks will turn NYC into Detroit.
Thanks, idiots for electing this dunce to the presidency.
The banks will pass the bail out fee on to its depositors. WHAT IS WRONG WITH OBAMA..... HE HATES THE AMERICAN PEOPLE!
Hmmm. Three mentions of “Republican” and no mention of “Democrat” in that excerpt. I’m hoping that is because everybody already knows 0b0z0 is a Democrat.
I agree. Zero Hedge (and Mish, for that matter) are both on my lists.
FReepers need to be on top of all of these, I’m thinking.
National Partisan Radio is but should not be partially supported by tax dollars — but major contributors’ names should be on every program.
nobama hates capitalism, America, American citizens, freedom, the Constitution, white people, his wife, his children, his dog and him self. he is a deranged narciscistic marxist who well-intended but ignorant people elected. he is determined to undermine America and the American system. every day there are numerous data points provided by this loser and his administration that strips away denial. this man hates us. i know it is hard to accept, but he is systematically and determinedly damaging the USA.
L T N
To the statist liberal, there is the image of Scrooge McDuck money vaults and all those poor people in the soup lines shivering in the cold. The fact that neither image has any resemblance to reality is as pesky to them as the recent cold wave was to Al Gore.
Bush43 saw a crisis (correct or not) that the financial lifeblood of liquid currency was freezing and that could/would be another 1929 tipping point. He sought to throw a lifeline for an emergency rescue. The Democrat leadership saw an open opportunity to make use of the crisis rather than letting it go to waste. This is their mantra, this is their destiny and this is why they have to BE KICKED OUT ASAP!
The financial sector should retaliate with Ads that show bank customers paying higher fees sarcastically saying “Thanks Kenyan!”
Another set of Ads about the financial collapse would be good entitled “What about Barney Frank?” showing how he enriched his boyfriend at Freddie Mac.
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