Obama Logic: Make Banks Pay for Insurance Company Losses

[AZGrizFan]

http://www.azcentral.com/news/articles/ ... s0112.html

Obama administration officials and lawmakers are scrambling to find a way to funnel some of the financial industry's record earnings back to the taxpayers who helped rescue the industry from looming disaster.

The White House is considering a fee on banks and other financial companies as one approach, with revenues earmarked to help recoup any losses from the government's $700 billion bailout fund, a senior administration official said.

Sounds reasonable, right? But wait....it gets better....must redistribute the wealth!

Washington's determination to find ways of pulling cash from overstuffed Wall Street wallets stems in large part from fear of a public backlash against multimillion-dollar bonuses at a time when unemployment still stands at about 10 percent and record budget deficits plague the federal government.

http://www.msnbc.msn.com/id/34808673/ns ... nd_economy

Government officials have conceded that they don't expect to recoup billions in TARP money used to rescue insurance conglomerate American International Group Inc. and the auto industry. Banks have been repaying their infusions, in part to get out from under compensation limits imposed on the bailout recipients. Banks have also paid dividends from the government help.

The administration is now projecting the losses to the government from the bailout program will be about $120 billion, most of it due to auto and AIG assistance.

So: the LOSSES come from the auto industry and AIG, but the FEES get charged to the Financial Services industry.

Makes perfect sense.

Honestly, donks...I get it that you don't like people making money...especially more money than YOU. But if this doesn't just get your goat, then you truly are on a different planet and have no concept of the fundamental theories that founded this country.

And FYI, I was against all bailouts in the first place, so don't bother going "there" with me.

[kalm]

"I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."

- Thomas Jefferson

We are redistributing redistriubuted wealth.

[AZGrizFan]

"I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."

- Thomas Jefferson

We are redistributing redistriubuted wealth.

Great, a quote from 200 years ago to make your point.

Banks don't issue currency...and the GOVERNMENT/Fed controls inflation and deflation with money supply, not banks. And this is not about redistributing the BANKS wealth, it's about redistributing the wealth of the top wage earners. Your benevolent government controlling the salaries of private enterprise. Sound familiar, comrade?

[kalm]

"I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."

- Thomas Jefferson

We are redistributing redistriubuted wealth.

Great, a quote from 200 years ago to make your point.

Banks don't issue currency...and the GOVERNMENT/Fed controls inflation and deflation with money supply, not banks. And this is not about redistributing the BANKS wealth, it's about redistributing the wealth of the top wage earners. Your benevolent government controlling the salaries of private enterprise. Sound familiar, comrade?

Oh, I thought you were commenting on the "concept of the fundamental theories that founded this country."

Carry on then.

[AZGrizFan]

Great, a quote from 200 years ago to make your point.

Banks don't issue currency...and the GOVERNMENT/Fed controls inflation and deflation with money supply, not banks. And this is not about redistributing the BANKS wealth, it's about redistributing the wealth of the top wage earners. Your benevolent government controlling the salaries of private enterprise. Sound familiar, comrade?

Oh, I thought you were commenting on the "concept of the fundamental theories that founded this country."

Carry on then.

Sorry. Didn't get the connection.

No, that comment was purely for effect.

[Grizalltheway]

Oh, I thought you were commenting on the "concept of the fundamental theories that founded this country."

Carry on then.

Sorry. Didn't get the connection.

No, that comment was purely for effect.

Right, the founding fathers are only relevant when they support YOUR position.

[AZGrizFan]

Sorry. Didn't get the connection.

No, that comment was purely for effect.

Right, the founding fathers are only relevant when they support YOUR position.

No need to crucify, a-hole. I simply missed the connection.

[JMU DJ]

Right, the founding fathers are only relevant when they support YOUR position.

No need to crucify, a-hole. I simply missed the connection.

There's a website for that Z.

http://phoenix.craigslist.org/mis/

[AZGrizFan]

No need to crucify, a-hole. I simply missed the connection.

There's a website for that Z.

http://phoenix.craigslist.org/mis/

ah yes....the famous "missed connections" section of craigslist. Can't say I'm familiar with that one...

Now quit tryin' to hijack my thread, motherfucker.