Bloomberg to Obama: Hey, Thanks for Turning Us Into Detroit

Looks like Barack Obama's new "fee" on banks isn't going over well with New York City Mayor Michael Bloomberg, a businessman with just a bit more private sector experience that the Community Organizer-in-Chief.

Mayor Bloomberg said yesterday that President Obama's plan to slap a tax on banks is aimed squarely at the city's lifeblood and could turn Manhattan into a crumbling wreck like Detroit.

Bloomberg warned that the plan could bring about the collapse of the city's financial sector and starve New York of revenue it needs to provide basic services.

"The way we pay our cops, firefighters and everybody else in the city is from tax revenues," Bloomberg said.

"And if you want to see what happens to a city when their major industry fails, just take a look at Detroit," which has been reeling from the collapse of the auto industry.

Of course since Detroit is the economic model of the liberal utopia, Bloomberg's comments are sure to draw fire. Forget the fact Detroit ranks just slightly ahead of Port au Prince as an economic success story these days. No doubt he'll be called racist or something.

Bloomberg, a frequent Obama ally, said New York, in a similar way, is "dependent on the major industry here. When it does well, that's how we build up money to carry us through the bad times.

"I'm very concerned that we don't drive business overseas. London became a financial center when we increased regulation here," he said, adding, "I certainly hope our legislators in Washington will fight to protect our industry here."

Good luck with that. Even the supposedly pro-Wall Street Senator Chucky Schumer is all for the tax grab.

Sen. Charles Schumer, an Obama supporter who typically champions Wall Street, is for the bank-tax proposal.

"While we await the details of the president's proposal, the original rescue legislation clearly required that financial institutions that benefited from [the bailout] would contribute additional funds until taxpayers were fully repaid. The point of that provision was to put taxpayers first, and I agree with that," Schumer (D-NY) said.

Schumer and his boss Obama must not be aware that those on Wall Street already pay an enormous amount in taxes, but probably not for long once they relocate overseas.

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