January 14, 2010 — New Hampshire Organizing for America State Director Tim Arsenault released the following statement after President Obama’s announcement of a Financial Crisis Responsibility Fee that would recoup money that American taxpayers gave troubled financial institutions to stave off economic collapse. While the majority of the money given to financial firms through the Troubled Asset Relief Program has been paid back, that is not enough. Organizing for America (OFA) is a project of the Democratic National Committee committed to supporting President Obama’s agenda for change.
“President Obama’s Financial Crisis Responsibility Fee is an important initiative that will ensure that American taxpayers are fully repaid for their extraordinary assistance to banks during the financial crisis. Many of these banks are now reporting profits and paying out huge bonuses to executives while these firms still have not fully paid back the American taxpayer. I applaud President Obama for his courage to hold Wall Street accountable while Main Street still suffers.
“This tax sends a clear message to Wall Street that the excessive risk-taking that led to a near collapse of our economy in 2008 will no longer be tolerated – the status quo is unacceptable. President Obama and OFA volunteers across the state of New Hampshire will not stand idly by as big banks rake in profits while millions of Americans struggle to keep their heads above water.”