Biden: Occupy Wall Street, Tea Party Have Frustration in Common

Vice President Joe Biden won't let the attacks go on Obama go unanswered, telling a crowd of campaign donors in Tulsa, Okla., that the president has "a backbone like a ramrod."

Vice President Joe Biden today likened the Occupy Wall Street protests to expressions of grassroots frustration by members of the Tea Party.

“Let’s be honest with one another,” Biden told an audience on camera at the Washington Ideas Forum. “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.

“There’s a lot in common with the Tea Party,” he said. “The Tea Party started, why? TARP. They thought it was unfair.”

Biden cited Bank of America’s recent decision to impose a $5 monthly fee on some debit card users as an example of new perceived unfairness related to the banking sector that has fueled more popular frustration.

“The middle class folks, these guys with the debit cards, are on their back. And [banks] are going to charge them $5 to use the cards? At minimum, they are totally tone-deaf,” Biden said.