Published reports say they could be part of next month’s budget proposal
WASHINGTON - President Barack Obama is weighing a levy on financial institutions to help recover shortfalls in a $700 billion bank bailout fund and to help balance a budget that is looking increasingly grim amid an ongoing economic crisis.
A senior administration official said Monday that Obama would seek modifications to the law that sent billions in bailout money in 2008 and 2009 to a flailing Wall Street that was approaching collapse. The government official spoke on the condition of anonymity to discuss the president's thinking.
The 2008 law that created the Troubled Asset Relief Program requires the president to seek a way to recoup unrecovered TARP money from financial institutions, but five years after the law was enacted. It does not specify how the money should be recovered.
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Why doesn't Obama cancel any more spending of the "stimulis" bill and save the country a ton of money.
ReplyDeleteThe Obama stimulis plan hasn't worked for squat anyway!
And they think the banks are just going to eat these fees??
ReplyDeleteOf course not.
It's just like raising corporate taxes.. "Let's make these greedy companies pay their fair share.."
ALL these charges will just be passed on to the customers, and they know it.
Nothing is EVER free from a bank.
Just wait till the prices start to skyrocket on everything Dyneshia and Pedro and Brittney buy at walmart, etc.
We will see if they still think it was cool to vote for somebody they knew nothing about..