"We Want Our Money Back"

Proclaiming that "We want our money back," Barack Obama finally echoed the words that millions of Americans have felt concerning the bank bailout. He continued by announcing that fees would be imposed on the largest banks, those with assets greater than $150 billion. These fees will continue for ten years or until the full amount of the taxpayer money spent on the TARP fund are recovered.

These fees do not apply to smaller banks, community banks and the like. In fact, only the largest banks, those that caused the meltdown and then profited from it through the bailout, will be affected.

This measure may at some level be largely symbolic, but it is high time that we begin to end the corporatist policies of the past. Now is that time.

Also, let us give Obama credit for finding a way to undo the give away of the public wealth that Henry Paulson and the Bush (mis)Administration tried to engineer before leaving office. Now if only he'd fire Geithner.

By the way, before the right wing trots out to defend their corporate masters by crying "Socialism," - paying back money you took is hardly socialism. This is how far the debate has been skewed, when banks have to live up to their obligations or operate on a level playing field, they cry foul and play the victim. Watch their despicable behavior over the next few months as they try to figure out ways around the fees, using lawyers and accountants to evade their responsibility for the mess they put everyone in.