Oil and insurance companies are placed on the back burner, as the Obama administration ushers in a new boogeyman – the banking industry. Sure, Bush, Cheney and Rove are still the reasons why the economy tanked in 08 and 09, if you believe the left, but for now, the White house will focus its blame on the bankers. So, listen up, America, the President is trying to communicate a message – it is the banking industry’s fault for the bad economy.
Does the President really expect the American people to believe now that regulating banks will prevent another economic meltdown?
Two weeks ago if Congress did not pass healthcare “reform” America would have been unable to contain its debt; two months ago if Congress did not pass Cap and Trade carbon dioxide would have burned up the earth; four months ago FOX news was not a real news organization; and ten months ago, if Congress did not pass the Stimulus bill, unemployment would have risen above 8%. (Do you see the scare tactic pattern?)
The latest attacks on the banking industry is just a poor excuse to tax the hell out of the industry so that the Federal government can have more money to spend, and can control how bankers do business. Even worse than that, it mixes politics with money.
The tax proposal on the banking industry, initiated by the White house, is capricious, lacks conformity and opens the door to a new special interest donating group. Here’s how. If one banking institution supports a politician’s policies and/or campaign, their institution may be exempt from certain taxes. Whereas if another banking institution supports an opposing strategy, regulation can be effectuated. And the vicious cycle continues!
Listen up, Mr. President; this is not the type of change Americans were looking for.
This is just another scheme from this White house to regulate the free market from the false premise that the government can do a better job and wealth can be fairly distributed. Until they realize that the American people would rather take their chances with the free market, than have government regulate their lives to death, the White house will continue inventing new industries to blame.
When the President said on live television that his policies are unpopular because he failed to convey his message and not that he failed to listen to the American people, he obviously is out of touch. Even in the face of devastating losses for the Democrat party in Massachusetts, New Jersey and Virginia, this rhetoric of immunity coming from the Whitehouse shows its arrogance and conceit.
Americans are left in the odd situation of trying to convince the President that we are sophisticated enough to comprehend his policy vision, but we want something different and something quite simple. We want the Federal government to stop spending, stop borrowing, stop regulating, stop taxing, and stop growing government. In our eyes, the Federal government is the boogeyman!
Maybe the President should start listening and stop explaining.