Obama Announces Big Bank Fee

After days of speculation, the president today confirmed reports that the government will seek to recoup losses from its massive financial system bailout by proposing a new tax on major banks. "We want our money back, and we're going to get it," President Obama said sternly this afternoon at the White House. What the government calls a financial crisis responsibility fee would be levied on roughly 50 banks with assets of $50 billion or more. The goal is to raise at least $90 billion over the...Full Story
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