Obama Slapping The Hands Of Successful Banks
With Wall Street banks finally paying off their own stimulus borrowing you would think President Obama would be happy. Yet, in a move that shocked Wall Street to the core the Obama Administration decided to place a “Bad Capitalist” tax/fee on some of the largest banks.
Regardless of how well they are now handling their situation, they seem to be continually treated by the Obama Administration as a hoard of evil capitalist worthy of public disgrace and punishment.
Obama has conveniently elected; however, to leave out the two institution who actually caused the nations worst housing crises which lead to the economic collapse: Fannie Mae and Freddie Mac.
Obamas reasoning for such tax/fee is none other than the Federal Government needed to recover it losses.
In a move that might make Obama take a second look at such a destructive penalty, Warren Buffet just came out in opposition to Obamas idea to penalize the Wall Street banks. In a recent interview on both CNBC and Bloomberg buffet denounced such penalties by the Obama Administration.
“I don’t see any reason why they should be paying a special tax,” says Buffet. Buffet goes on to praise the work of many banks including Goldman Sachs and at the same time suggested that many of the banks never needing bailing out.
This leaves one to believe, that Obamas over zealous push to provide funding for banks had a hidden agenda. An agenda that most Americans will likely never discover even in the face of current congressional questioning regarding the cause of our economic crises. The truth will only likely only come from the willingness of a new Presidential Administration who wholeheartedly seek the truth for the American people.
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Translator
Hidden agenda – cool the market exuberance over the Senator Brown election at all costs. We can’t have the markets expressing pleasure on events contrary to our programs.