June 11, 2009 11:53 am
The banks are able to pay back the bailouts because they get money at zero interest rate and loan them at high interest rate. This means that the effort of the Government to take money from the taxpayers, namely poor and middle income Americans, and transfer them to the rich continues irrespective of who is the President. I presume that a Republican President, even Bush would not have been as aggressive in transfer of wealth to the rich as President Obama is. It seems that Wall Street Journal and the lobbies of the rich will fight to change the two terms law.— Aharon Meytahl, Vestal, New York
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