Biden on Occupy Wall Street: "There's a Lot in Common With the Tea Party"

Reporting on Politics and Policy.
Oct. 6 2011 10:43 AM

Biden on Occupy Wall Street: "There's a Lot in Common With the Tea Party"

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ARLINGTON, VA - SEPTEMBER 11: Vice President Joseph R. Biden arrives for a memorial service at the Pentagon September 11, 2011 in Arlington, Virginia. Secretary of Defense Leon E. Panetta, Chairman of the Joint Chiefs of Staff Navy Admiral Mike Mullen and others will attend the service at the Pentagon Memorial to commemorate the 10th anniversary the September 11, 2001 terrorist attacks on the United States. (Photo by Brendan Smialowski/Getty Images)

Photo by Brendan Smialowski/Getty Images

In an interview at the Ideas Forum, David Gregory asked Joe Biden question that got the crowd tittering: "Do you stand in solidarity" with the Occupy Wall Street protests?

"Look," said Biden, talking over the "ooohs" and murmurs, "that's a really fair question. Let's be honest with one another. What is the core of that protest? The core is: The bargain has been breached. The core is, the American people do not think the system is fair, or on the level. That is the core is what you're seeing with Wall Street. Look, there's a lot in common with the Tea Party. The Tea Party started, why? TARP. They thought it was unfair."

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Biden continued on, trying to suss out why people would be so angry at banks. He took the example of Bank of America's debit card fee hike, which the company has blamed as a necessity, a reaction to swap fee reform legislation.

"The middle class folks, these guys with the debit cards, are on their back. And we're gonna charge 'em $5 to use the cards? At minimum, they are totally tone-deaf."

David Weigel is a reporter for Bloomberg Politics

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