Kucinich to Banks: ‘We Own You’

The American people essentially own the banks that have received assistance from the federal government, Rep. Dennis Kucinich (D-Ohio) argued Monday.

Kucinich argued on CNN this morning that the government should again intervene to curtail alleged extravagances by companies receiving a bailout, including aggressive advertising and spending money on naming stadiums.

“There needs to be another reach-in, and say: Look, stop this aggressive advertising,” Kucinich said. “We own you, essentially, and we don’t want you advertising. We want you to keep employees.”

The two-time Democratic presidential candidate said that he will convene hearings within a month to investigate wasteful practices by companies and banks receiving money under the Treasury Department’s Troubled Asset Relief Program (TARP).

“Since we have a stimulus now that’s not a bailout that became necessary because the banks aren’t lending money, then it seems to me that we have an obligation to look at all ways in which the banks are looking at these bailout funds,” Kucinich asserted. “Banks are hoarding money. They aren’t using it to help people keep their homes, they’re using it to buy other banks.”

Watch a video of Kucinich’s appearance: