We Want Our Money Back

The king has spoken…

Obama has ordered the nation’s largest banks to pay back $90 billion over the next ten years in lost TARP money from the auto bailouts, GMAC and AIG.

The only major bank that has yet to pay back its TARP funds is Citibank.

Before you start chanting… “Yeah, stick it to them.” or “Grab your torches and pitchforks!” I want you to ask yourself a few questions…

Who do you think is going to end up paying this tax?

Why are we forcing banks that already paid back their portion with interest, to pay off the losses of others?

Do you recall that many banks were forced to take part in TARP even though they didn’t need it?

What about Freddie and Fannie who are still allowed lobby Congress to the tune of millions?

This is classic smoke and mirrors Hugo Chavez stuff. The economy is doing poorly. Unemployment is out of control. The Emperor has no clothes, so the Emperor needs a distraction.

Nobody goes after Wall Street harder then me! This however, is ridiculous; and in my opinion unconstitutional.

Remember the AIG tax from 2008 that magically went away?

Using the tax code to punish is unconscionable. But, don’t forget this is the same socialist idiot that stated during the debates with Hillary that he wanted to raise the capital gains tax, “Due to fairness.”

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