Step 1: Notice that banks don't make as many loans to some groups of people as they do to others.
Step 2: Stir up envy. This has the benefit of helping to ensure one's own re-election.
Step 3: Impugn the motives of profit-making financial institutions. Decide that the bankers' loan decisions must be based on discrimination rather than based on legitimate lending criteria.
Step 4: Require by law that banks make loans to weak borrowers who may not be able to repay the loans. When warned that the government program backing these loans is financially unsound, dismiss such warnings.
Step 5: When banks begin to fail, keep the same regulations in effect and blame the banks.
Step 6: When a large financial backer of banks is about to collapse as a direct result of the bad government policy forcing loans to unqualified borrowers, offer government financial "help" to "save" the large business.
Step 7: When the public learns that some employees at the now publicly-subsidized large business are highly paid (which for them is normal and reflects the huge financial responsibilities that are part of their job), don't explain to the public that this is how the economy works. Instead, demonize the high earners. Demand to know why they deserve so much money "for causing the financial institution to fail." Don't mention the government policy forcing lending to unqualified borrowers that led to the collapse.
Step 8: Tax away 90% of what you deem the "excess" compensation paid to high earners at the large business. (This will confiscate money already earned and make it much harder for the business to retain high-level employees who it needs to prosper in the future.)
Step 9: Pat self on back for having destroyed a business, only to "save it," only to destroy it again.
And who said Democrats would raise taxes sky high?
WASHINGTON – The House is scheduled to vote today on a bill that would levy a 90 percent tax on bonuses paid to employees with family incomes above $250,000 at companies that have received at least $5 billion in government bailout money.
"We figured that the local and state governments would take care of the other 10 percent," said Rep. Charles Rangel of New York, chairman of the tax-writing House Ways and Means Committee.