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V.P Biden asks for support for the President's Financial Crisis Responsibility Fee

Vice President Biden at a health reform town hall meeting.
Vice President Biden at a health reform town hall meeting.
White House Photo

Vice President, Joe Biden, sent out an email to supporters on Friday regarding President Obama’s proposed Financial Crisis Responsibility Fee. He urged supporters to support the fee because it, “Would recover every penny loaned to Wall Street during the financial crisis and stop the reckless abuses and excesses that nearly caused the collapse of our financial system in the first place.”

Biden also noted that, “The banking industry -- among the most powerful lobbies in Washington -- is already launching attacks to stop Congress from enacting the proposal.”

The Vice President’s email went on to add that, “The proposal is expected to recoup billions from the big banks, most of it from the ten largest. As the President said, "If these companies are in good enough shape to afford massive bonuses, they are surely in good enough shape to afford paying back every penny to taxpayers."

On Thursday President Obama said, "My commitment is to recover every single dime the American people are owed. And my determination to achieve this goal is only heightened when I see reports of massive profits and obscene bonuses at some of the very firms who owe their continued existence to the American people...We want our money back, and we're going to get it."

President Obama has set up a website where you send a statement showing your support for the Financial Crisis Responsibility Fee at