Reuters via Yahoo! NewsThat's what President Barack Obama said when discussing a proposed tax on the banks which have done so well in the year since the U.S. economy nearly collapsed that they are able to dole out bonuses in the six and seven figures.
Some of those companies would not have survived the implosion that claimed Lehman Brothers and nearly felled insurance giant AIG if the government hadn't stepped in with a $700 billion bailout fund to save the day.
So who could argue with the president's simple assertion that it's time for the banks to step up, pay up, and help our country out of debt if they are so flush so quickly that outsize bonuses are once again possible? Well, the Republicans in Congress, for one group, though they have been pretty quiet so far. It's hard to be popular sticking up for well-heeled bankers these days. And the bank execs, who went hat in hand to Congress this week, admitting they did some things wrong, even apologized, but still said this is a case of punitiveRead More »from "We want our money back"