Posted on 01/12/2010 10:06:16 PM PST by Nachum
WASHINGTON (AP) - A senior administration official says President Barack Obama is ready to announce an administration plan to recover Wall Street bailout shortfalls with a bank fee on the country's biggest financial firms.
The announcement is expected Thursday. The official was not authorized to discuss the fee publicly.
The official said the fee would be designed to recoup as much as $120 billion. That's the most administration officials expect to lose from the government's $700 billion Troubled Asset Relief Program that bailed out banks, automakers and other financial firms.
(Excerpt) Read more at breitbart.com ...
BTTT
Fees. Pass on to you and I.
The list, ping
Gee....who gets the bill Obammy....You are so out of here in 2012.
I wonder who is going to pay those fees? Women and children hardest hit!
In his normal fashion, he is going to charge the banks that made sound decisions for the losses of the ones that didn’t. Equal outcomes regardless of choices, it’s the communist way.
And of course we get to pay it.I’m really getting tired of this crap.Dont employ democraps ever again.
not just fees passed on.... the more money we have in savings/checkings...the more we will pay.
closing account 2morrow.
wonder if credit unions will be affected
Of cuss! Why would the Rats want it to be any cheaper for financially struggling Americans to bank? That would make too much sense.
So banks that acted responsibly are going to pay for the banks that did not... And that’s going to make the banks that acted responsibly more healthy... Not... And the bottom line is we, the customers, are really the ones that are going to pay all the fees...
FOB.
My first thought is that the Bank of America is one of the 40 Dow Jones Industrials, so how will “the market” react, insofar as it is a market anymore. Things are really out of kilter now, it seems to me.
Have you noticed that the DOW very faithfully tracks, without exception that I’ve seen in recent weeks, the Euro? Maybe not in exact proportion, but if the Euro is up against the dollar, the DOW is up without fail. I know there are explanations for this, but they reside in the sloshing too and fro of money, and have nothing to do with industry, per se.
im taking mine out and buying gold and silver asap.
wonder how many banks will fail this year...this month.
This just can't keep going on. Light skinned, dark black or lily white Obama is a financial idiot and no one with a brain can question that.
My Bank (Virginia National) never took TARP funds. God Bless them for their foresight. When/if they ever go public, their IPO will be the first to perhaps signal the banking boom akin to that of the early 90s.
He must have flunked econ 101. Businesses are not taxpayers. They are tax collectors. Everyone who uses a bank will be paying this, rich guys and poor guys all the same and on top of all the other hidden taxes.
That’s great because 99.99 percent of the idiots in America will chortle in glee in the misguided belief that Obama just stuck it to those big nasty rich Jewish bankers... Simpletons won’t even notice the new and creative ways that the banks will recoup the money. Lets see, increased overdraft penalties (wonder who that will hurt the most), ATM charges, wire transfer charges, automatic payroll charges etc. We live amongst a a whole herd of poltroons.
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