Obama’s ‘responsibility fee’ for financial institutions is long overdue – and impressive politics. It neatly splits the GOP away from its tea party base. The party’s obstructionism will be forced to reckon with the real grassroots anger towards the bailout. It also might fry some tea party brains with their wires crossed about the GOP and Obama.
It’s also timely. Financial reform will be winding its way through Congress as they parties shift into high gear for the 2010 election cycle, putting a big piece of popular, base splitting legislation front and center when people go to the polls.
100 billion is nothing to shake a stick at either. It’s a well-aimed tax on the people willing to sacrafice you and your livelihood for their personal gain.
