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We want our money back, and we're going to get it

I know how you feel Mr. President, but I've learned to live with the fact that I'll never get any of the money I've sent to Washington back. Well, unless I'm lucky enough to get back a little of that interest-free loan Uncle Sam extracts from me every year under penalty of jail or worse.

"We want our money back, and we're going to get it." Strong words from President Obama, directed at the financial industry as he announced his proposal to levy a fee/tax on America's largest financial institutions. You could almost forgive taxpayers for thinking Obama was speaking for them. But "our" refers to Washington DC's and Washington DC refers to the current Democratic majority in Congress and the Democrat in the White House. It's their money and they've got plans for it.

So spare us the faux populist shtick, Captain Bullshit. What we're witnessing is Obama's carefully scripted counterpunching strategy to lift him and his party out of their current death spiral. He's even trying to open up a second front in Massachusettes.

Compare this:

Now is the time for Scott Brown to tell us what side he's on, and who he wants to fight for. Despite his tea party rhetoric about never supporting a tax hike, the truth is that he has supported more than $300 million in new taxes and fees on middle class families. We'll find out if his "no tax" pledge only applies to the privileged.

With this:

The White House laid down a clear challenge to Republicans, daring them to oppose the bank fees.

"If you want to be on the side of big banks, then -- this is a great country -- you're certainly free to do so," said White House press secretary Robert Gibbs. "There will be a vote and we'll get to determine who's on what side."

Oooh, a classic pincer movement combined with some anti-tax Republican jujitsu and a flourish of Americans are pissed at Wall Street. How ordinary. No matter how mad Americans may be at Wall Street, kvetching about Wall Street taking $100 billion of "our" money while you're battling to spend $2.5 trillion of the taxpayers' money on your health care nationalization plan isn't going to divert "our" attention from the elephant in the room/man behind the curtain.

I hear lobbyists are pretty unpopular these days too. Republicans might just be happy to point out the folly of squeezing entities that have repaid their TARP funds to continue bailing out government owned entities like GM, Chrysler, Fannie, and Freddie. Let's talk about the sweet deal Das Wunderkind Tim Geather engineered in secret for AIG's creditors. Let's talk about the sweet deal the UAW got when Obama overrode long-standing bankruptcy court precedent on creditors. Let's talk about falsely rated mortgage securities peddled by Fannie and Freddie.

Yes, I believe this is a battle into which Republicans should happily be "suckered". Obama has squandered what credibility he may have had by walking back from campaign promises repeated ad nauseum. Promises, promises...where have I heard that before? Zounds, the AP and your humble Baron are barking up the same tree? Pretty soon no one will believe a word Obama's teleprompter prompts him to say.

On the micro level in Massachusettes, should Scott Brown somehow pull off the impossible upset and win Tuesday's special election the indelible spin will be a repudiation of Obama and PelosiReids' health care fiasco. They themselves have cast it as "a vote to uphold Teddy's dream of health reform." If Coakley screws the pooch expect to see the season premier of Ow, My Balls broadcast from the Oval Office.

Obama tells People magazine that philandering golfer Tiger Woods can "absolutely" be rehabilitated if he's a sex addict, as reported by ABC.

"I don't want to comment on his personal relationship with his wife and family, but I'm a strong believer that anybody can look within themselves, find their flaws and fix them," the Commander-in-Chief says.

True enough, provided a person is capable of finding flaws within themself. Obama could easily right his listing ship. Come out tomorrow and declare the health care reform process to be hopelessly torn by special interests. Pledge, and actually follow through, to work with Republicans to craft a new bill. Accept some Republican ideas in the plan like the thoughtful, moderate you fraudulently claimed to be on the campaign trail.

Or better yet, come out swinging. I always had you pegged for a one-termer. You're making it easy money.


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Comments (7)

Obama has no credibility on... (Below threshold)

Obama has no credibility on the issue of "giving money to big banks". He raised more money from Wall St than any other candidate. He announced on Christmas Eve he was opening the flood gates to Fannie/Freddie. What did they do? They were the initial procurers of the bogus mortgages, who then bundled them and sold them to the capital markets.

Fannie and Freddie's execs also raked in $45 Million in tax payer subsidized bonuses. And his Dem chair leaders (Frank and Dodd) are still trying to pry more lending out of banks, when they wisely consider the risks. (Disclaimer: I'm torn on the issue of Main St. small businesses not getting more consideration from the gov't and the banks in line of credit extensions in this economy. I understand the risk, but Main St is just as important as Wall St.)

The rhetoric coming of the White House, in personalizing the enemy is not correlating with their actions.

Republicans might ... (Below threshold)
Republicans might just be happy to point out the folly of squeezing entities that have repaid their TARP funds to continue bailing out government owned entities like GM, Chrysler, Fannie, and Freddie.
Not to mention he's squeezing the top banks who 1. almost all have paid back the loans with INTEREST and 2. GM and Chrysler haven't paid back dog squat, in fact GMAC just got another bundle of tax payer cash, and they got far more than many of the banks.

Not to mention, under TARP the banks were already required to pay the loans back WITH interest, so in effect they get penalized twice.

And do I really need to suggest whatever this tax generates in all likelihood WON'T be used for any damn thing productive?

Us usual, Obama does not le... (Below threshold)

Us usual, Obama does not lead, but instead resorts to playing yet more political games.

This also serves to further the democrat myth that Wall St. (and Bush/Cheny of course) was primarily responsible for the mess we're in today.

The campaign never ends.
The blaming never stops.
Amateur hour continues.

When your early political l... (Below threshold)

When your early political life has been that of an agitator (or community organizer or whatever more polite term is preferred) this is precisely the kind of rhetoric you will get. I would counter by saying something like, 'let's leave that money with the banks. There is a better chance you will see it in the form of loans and investments, than you would in the hands of Obama in the form of another one of those wildly successful stimulus programs.'
First they put these funds with the banks in order to improve availability of credit/loans to average Americans. Everything Obama has done since has served only to worsen the environment for lending. This administration is basically like an abusive domestic relationship. They assert control and give and take unilaterally as they see fit. The end of Democrat control cannot come soon enough.

Obama has zero credibility.... (Below threshold)

Obama has zero credibility. First, he lied about his association with Rev. Wright and his church of 20 years. Then, he lied about accepting public campaign funds. Then he lied about health care debates on CSPAN. Then he lied about lobbyists in the White house. Then he lied about the need for the Stimulus. Then he lied about why closing Guantanamo was a national security priority.

With a history like this, nothing he says can be trusted. Or, put another way, EVERYTHING he says can be trusted---to be a lie!

To restate your headline ju... (Below threshold)

To restate your headline just a bit -- We Want our Country Back, and we're Going to Get It!

Just so much bullshit. Obam... (Below threshold)
John S:

Just so much bullshit. Obama can talk tough to the banks, but it doesn't change the fact that he's a Goldman-Sachs employee.






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