Continuing on from the prior post:
'And then he connected this argument to the struggle over financial reform, aimed at changing "a situation where people are allowed to take wild risks and all the downsides are socialized even as the profits are privatized." Obama said that "some of the rhetoric that's coming out of the other side of the aisle" suggested that Republicans "so far, at least, don't seem to acknowledge that we're going to have to make some tough decisions and reform the system."'
Obama is just disgusting. A horrible, disgusting man.
The downsides are socialized while the profits are privatized.
Remember now, the poorest 47% of Americans pay not one single red cent of income tax. That's right, zero.
Whereas the top 10% of Americans pay 75% of all income tax.
So, a bailout of banks paid for with income taxes would be... money from rich people bailing out other rich people.
What Obama means is, the rich greedy bastards of Wall Street chucking another fifty billion down on some crazy bet, and then when it doesn't pay off, getting the working schmoes down at the dockyards to pay another fifty bucks a week each in income tax to bail them out.
Which goes down a storm in the student union and the trade union headquarters, where facts are not really considered important.
Obama calls reforming Wall Street a tough decision? Tough like eating a banana; not tough like doing a twelve hour shift down on the coal face.
But then Obamas life has always consisted of tough things like this decision about Wall Street reform. Tough tough tough. What a Trojan.