Obama's demonization of banks

Subject: txt mny libs -
President Obama has decided to take on the banking industry with the most intrusive regulatory and tax package since the New Deal of the 1930s. If the president's failed freshman year didn't convince the O Force of his own fallibility, attacking Wall Street should bring him back down to Earth... [snip]

Banks are not the bad actors Democrats want people to believe. Banks have paid back almost all the money they were lent -- along with interest. The same cannot be said for government-run Fannie Mae and Freddie Mac, which have irretrievably lost $400 billion and counting - and the Obama administration is offering those losers a blank check for billions more... [snip]

The truth is most of the blame for the financial meltdown belongs to government. Some banks were forced to take government bailout funds under government threat. Others, such as Bank of America, found themselves in financial difficulty because the government forced them to merge with other institutions that had lost oodles of money.

Even under Mr. Obama's own anti-business logic - that new taxes and regulations are needed to control risk in the banking sector - it would only make sense to impose a tax on riskier banks. Levying an across-the-board tax will only increase costs for all banks and raise prices for customers...

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