Saturday, January 16, 2010

Bank Heist

The big bank tax: Obama's fee fraud
 Comrade Obama does his stand-up Lenin routine

Curmudgeonly & Skeptical

The bulk of TARP's estimated $117 billion in losses will come not from banks, but from the auto industry ($80 billion), AIG and government-chartered mortgage giants Fannie Mae and Freddie Mac. Obama's tax will apply to AIG, but not the others, even though Fannie and Freddie are expected to cost U.S. taxpayers more than all the TARP losses combined.

Instead of applying to the firms that owe the taxpayers money, Obama's tax will apply to about 50 big financial institutions, many of which never took a dime in TARP money. Administration officials told The Washington Post that the real goal of the tax is to reduce compensation at large Wall Street firms. The President hopes they will absorb the tax by cutting pay. [Story]


Anonymous said...

The President hopes WTF they will absorb the tax by cutting pay hopes??? WTF?
How fugging stupid can a Harvard grad be??? He Hopes the executives will Change. You gotta be sheeting me.
The cost will be passed to customers, like it always is.
Lt. Col. Gen. Tailgunner dick

Rodger the Real King of France said...

Once you truly accept that Obama is a Marxist revolutionary, continually frustrated by curbs placed on him by tour quaint Bill of Rights, he makes sense. In his heart of hearts he would feel justified in having them shot.

JR in WV said...

"Instead of applying to the firms that owe the taxpayers money,..."

I'm having trouble with how BHO gets away with tossing out a trillion in bribes and then goes after companies that won't get in line with hundreds of billions in taxes.

Can't one media outlet (Fox? Beck? Rush? Palin? Rove?) call him out?

It's the BHO administration that has made the TARP give-away unaccountable. Why aren't freemarketeers screaming for disclosure of the TARP distribution recipients and T's and C's? When jug ears sermonizes about how some greedy bankers have shaken down the American taxpayer for their billion dollar bonuses, it's a lie as big as 'health care reform.' His administration should be able to account for 'every dime' of the taxpayers money that was given away, and be able to get that money back from the companies that got it.

Anonymous said...

JR in WV: Come on, you know that TruboTax doesn't know how to handle TARP. Timmy can't plug the numbers in, they are too big. He was in charge of the NY Fed when all this crap was going down, and his buds at his old stomping ground got their 'help', so what's to complain about?
*THEY* know what they are doing. Just get your pockets sewn shut, and you'll be okay. They'll have to go after those that make money. Oh, I'm sorry, that's what they are doing. Silly me.

Rodger the Real King of France said...

which, tom, is why he must be removed

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