"Geithner: Pickpocketing Trillions from the People to Give to the Oligarchy..."

[WhiskeyGirl]

Geithner: Pickpocketing Trillions from the People to Give to the Oligarchy Was “Deeply Unfair”, But We … Um … Had To

Tim Geithner told the Today Show that:

It’s “deeply unfair” that some financial institutions that got taxpayer-paid bailouts are emerging in better shape from the recession than millions of ordinary Americans.

Geithner also argued that President Barack Obama had no choice when confronted with a financial crisis.

“As the president has said, we had to do some very unpopular things,” Geithner said. “People looked at what had happened.”"It’s not fair. It’s deeply unfair,” he said. “He (Obama) had to decide whether he was going to act to fix it or stand back … and that would have been calamitous for the American economy.”

There are only a couple of minor inaccuracies in Geithner’s statements:

* The government hasn’t done anything to fix the economy

* Geithner’s entire approach is wrong, because the economy can’t recover until many of the “financial institutions that got taxpayer-paid bailouts [and] are emerging in better shape” are broken up

* The government has been anemic in addressing unemployment

Moreover, it is not like their approach fell on them and they couldn’t do anything about it. Geithner, Summers, Bernanke and the boys made a conscious decision to side with the oligarchy at the expense of the people.

more here - http://www.prisonplanet.com/geithner-pickpocketing-trillions-from-the-people-to-give-to-the-oligarchy-was-deeply-unfair-but-we-um-had-to.html

[WhiskeyGirl]

"There Is Nothing Fair About Obama’s Wall Street Bailout Tax"

President Obama aims to tax banks who received bailout money, despite the fact that they’ve already paid back the bailout money. That policy might “feel” good or sound good to those who are angry at Wall Street, but in practice it isn’t good. Consumers – those same unemployed Americans whose pain Geithner so deeply feels – will be the ones who pay that penalty.

Despite Geithner’s concern over being “fair,” the president is awfully willing to accept unfairness in order to achieve his political ends. The bank tax, itself, is patently unfair. Firms who already paid-back bailout dollars will be taxed in order to “pay for” the bailout, but firms who haven’t repaid bailout dollars (General Motors, Chrysler, Fannie Mae, Freddie Mac) get off scot free.

Then there’s the inherent unfairness of the backroom deals secured to pass the president’s health care plan. The president picked winners and losers to win the votes he needed. There’s nothing fair about giving away the farm to a select few, while others are left out in the cold.

Fairness is defined as “being free from self-interest, prejudice, or favoritism.” That’s not the kind of treatment the president is doling out. It’s a paradox of logic, it’s a philosophical compass gone haywire, and it’s what’s guiding the president’s economic policies.

more here - http://blog.heritage.org/2010/04/01/there-is-nothing-fair-about-obamas-wall-street-bailout-tax/