Wyoming Democratic Party Statement on President Obama's Announcement of a Financial Crisis Responsibility Fee

Casper, WY — Wyoming Democratic Party Chair Leslie Petersen issued the following statement on President Obama’s announcement today of a Financial Crisis Responsibility Fee to ensure that Americans are fully compensated for the extraordinary assistance they provided Wall Street during the financial crisis. While the majority of the money from TARP (Troubled Asset Relief Program) has been paid back, that is not enough.

“With today’s announcement of a ‘Financial Crisis Responsibility Fee,’ President Obama has made it clear he will not rest until the American people are fully paid back for the assistance they gave Wall Street firms during the financial crisis. It is also a sign that the President will not tolerate business as usual on Wall Street and will hold financial firms accountable for their abuses and excesses that almost caused our financial system to collapse in the first place. The fee as proposed would affect around 50 of the nation’s largest firms; community banks and small firms will not be shouldering this cost.

“Wyomingite’s hard-earned tax dollars saved our economy from collapse, and they should get their money back. They shouldn’t have to stand by while financial firms announce large profit margins and give their employees massive bonuses while people on Main Street still suffer. On behalf of the people of Wyoming, I want to thank President Obama for his leadership on this issue and his commitment to rebuilding our economy for the long-term.”