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AP source: Obama to announce bank fees Thursday
Breitbart ^ | 1/12/10 | ap

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 ...


TOPICS: Breaking News; Business/Economy; Crime/Corruption; Government; News/Current Events; Politics/Elections
KEYWORDS: ap; bailout; bailouts; bank; economy; obama; phonypopulism; populism; source; tarp
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1 posted on 01/12/2010 10:06:16 PM PST by Nachum
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To: Nachum

BTTT


2 posted on 01/12/2010 10:07:11 PM PST by Jet Jaguar
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To: Nachum

Fees. Pass on to you and I.


3 posted on 01/12/2010 10:07:35 PM PST by VeniVidiVici (Gasoline is up 100% since the election of Barack Hussein Obama. Thanks, Democrats!)
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To: Jet Jaguar; NorwegianViking; ExTexasRedhead; HollyB; FromLori; EricTheRed_VocalMinority; ...

The list, ping


4 posted on 01/12/2010 10:07:53 PM PST by Nachum (The complete Obama list at www.nachumlist.com)
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To: Nachum

Gee....who gets the bill Obammy....You are so out of here in 2012.


5 posted on 01/12/2010 10:11:39 PM PST by Dallas59 (No To O -Time is going by really really really really slow.)
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To: Nachum

I wonder who is going to pay those fees? Women and children hardest hit!


6 posted on 01/12/2010 10:11:48 PM PST by b4its2late (Before you can control a horse, you have to break it. Sound familiar?)
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To: Nachum

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.


7 posted on 01/12/2010 10:11:55 PM PST by JoSixChip
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To: Nachum

And of course we get to pay it.I’m really getting tired of this crap.Dont employ democraps ever again.


8 posted on 01/12/2010 10:12:03 PM PST by HANG THE EXPENSE (Life is tough.It's tougher when you're stupid.)
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To: Nachum

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


9 posted on 01/12/2010 10:12:05 PM PST by wheninthecourse
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To: VeniVidiVici

Of cuss! Why would the Rats want it to be any cheaper for financially struggling Americans to bank? That would make too much sense.


10 posted on 01/12/2010 10:13:30 PM PST by HiTech RedNeck (I am in America but not of America (per bible: am in the world but not of it))
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To: wheninthecourse
"the more money we have in savings/checkings...the more we will pay

I will pull my money out cash at the first sign of that.
11 posted on 01/12/2010 10:14:07 PM PST by JoSixChip
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To: Nachum

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.


12 posted on 01/12/2010 10:14:41 PM PST by DB
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To: Nachum

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.


13 posted on 01/12/2010 10:16:08 PM PST by dr_lew
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To: JoSixChip

im taking mine out and buying gold and silver asap.
wonder how many banks will fail this year...this month.


14 posted on 01/12/2010 10:16:16 PM PST by wheninthecourse
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To: VeniVidiVici
"Fees. Pass on to you and I."

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.

15 posted on 01/12/2010 10:16:34 PM PST by blackbart.223 (I live in Northern Nevada. Reid doesn't represent me.)
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To: Nachum; All

New Bank Fees = New Taxes passed onto the Consumers

New Bank Fees = Less $ for Banks to lend to Consumers


16 posted on 01/12/2010 10:19:31 PM PST by BP2 (I think, therefore I'm a conservative)
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To: Nachum

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.


17 posted on 01/12/2010 10:20:47 PM PST by Cosmo (Liberalism is for girls)
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To: Nachum

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.


18 posted on 01/12/2010 10:21:08 PM PST by dajeeps
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To: BP2
I hope the banks tell “el Busto” to go straight to hell. I wish he would stay on vacation, things seem to go smoother when he is surf boarding. Australis has nice waves this time of year.
19 posted on 01/12/2010 10:25:40 PM PST by BooBoo1000
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To: Nachum

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.


20 posted on 01/12/2010 10:26:41 PM PST by DariusBane (Even the Rocks shall cry out "Hobamma to the Highest")
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To: Nachum

Wouldn’t this be a decision Congress makes? The Prez just giving commands now???


21 posted on 01/12/2010 10:26:58 PM PST by pollywog (Romans 8:28)
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To: wheninthecourse
"Wonder if credit unions will be affected"

At some point, yes. Inflation will nail all of us. Obama, like Hillary, is an ignorant socialist. He is neither brilliant or articulate as some were led to believe.

22 posted on 01/12/2010 10:29:18 PM PST by blackbart.223 (I live in Northern Nevada. Reid doesn't represent me.)
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To: Nachum

Pardon me, but where does this dumbass think the money comes from? Or does he care? I guess he thinks if you’ve got money in the bank you ‘should’ be punished anyway.


23 posted on 01/12/2010 10:29:20 PM PST by ReneeLynn (Socialism is SO yesterday. Fascism, it*s the new black. Mmm Mmm Mmm.)
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To: pollywog
Wouldn’t this be a decision Congress makes? The Prez just giving commands now???

The correct term in our current situation is "Diktat" ....
24 posted on 01/12/2010 10:30:53 PM PST by Kozak (USA 7/4/1776 to 1/20/2009 Reqiescat in Pace)
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To: DariusBane

Yeah, the idiots in this country will think this is designed to make Wall Street take it in the shin.


25 posted on 01/12/2010 10:32:05 PM PST by BigSkyFreeper ("Ked Tennedy would have been plowed... I mean, proud today..." - Senator Max Baucus (Drunk-MT))
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To: pollywog
"Wouldn’t this be a decision Congress makes?"

Considering the current crop in there this should give you concern. Nancy Pelosi comes to mind.

26 posted on 01/12/2010 10:32:53 PM PST by blackbart.223 (I live in Northern Nevada. Reid doesn't represent me.)
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To: pollywog

Same as before: it has to go to committee, specifically banking. This idiot pResident just makes up crap to shove down Americans throats.


27 posted on 01/12/2010 10:36:28 PM PST by max americana
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To: Nachum
Glenn Beck discussing today
28 posted on 01/12/2010 10:37:41 PM PST by Errant
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To: ReneeLynn
"Pardon me, but where does this dumbass think the money comes from?"

He doesn't even know where his own ass comes from. He's just movin' on up.

29 posted on 01/12/2010 10:37:41 PM PST by blackbart.223 (I live in Northern Nevada. Reid doesn't represent me.)
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To: Nachum

Another “fee” to be passed on to the middle class....Pay attention America. When your bank charges you more fees, thank Barack “Barry” Hussien Obama Jr.-Sotero-Obama


30 posted on 01/12/2010 10:41:20 PM PST by PawtucketPatriot71 ("Obama is light skinned and doesn't speak with a negro dialect" - Dingy Harry 2008)
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To: BigSkyFreeper

I wish that people would understand that this is really voters with no principles voting for people with no principles.

Principled people are accountable and hold others accountable. Neither is in play in the Democratic party. They are neither accountable nor do they hold the responsible people accountable.


31 posted on 01/12/2010 10:42:01 PM PST by pennyfarmer (Your Socialist Beat our Liberal)
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To: blackbart.223

Oh he knows EXACTLY where this money is going to come from, that is the whole idea. Destroy the private sector is his plan


32 posted on 01/12/2010 10:42:05 PM PST by Sarah Barracuda
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To: Nachum

What authority does he have to do this?


33 posted on 01/12/2010 10:49:32 PM PST by Gene Eric (Your Hope has been redistributed. Here's your Change.)
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To: wheninthecourse

Welcome to FreeRepublic, and thanks for telling me what you will do with your money. ;)


34 posted on 01/12/2010 11:00:14 PM PST by Carling (Somewhere in Kenya, a village is missing its idiot.)
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To: Nachum

It is hard to calm down. There are so many things, in so many threads that I want to say....but know that I should not.


35 posted on 01/12/2010 11:02:43 PM PST by digital-olive
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To: Nachum

US Constitution, Article 1, Section 7, Clause 1: “All Bills for raising Revenue shall originate in the House of Representatives; but the Senate may propose or concur with Amendments as on other Bills.”

So, exactly where does it say in the Constitution of the United States of America, that the Executive Office of the President can create a FEE, indistinguishable from a TAX, to be applied to raise revenues to pay for anything???


36 posted on 01/12/2010 11:12:18 PM PST by Swordmaker (Remember, the proper pronunciation of IE isAAAAIIIIIEEEEEEE!)
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To: Gene Eric

He has no authority. Congress holds on to the purse strings.


37 posted on 01/12/2010 11:16:39 PM PST by BigSkyFreeper ("Ked Tennedy would have been plowed... I mean, proud today..." - Senator Max Baucus (Drunk-MT))
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To: Swordmaker
That is impeachable.

Something about unreasonable search and seizure, eh?

Cheers!

38 posted on 01/12/2010 11:17:36 PM PST by grey_whiskers (The opinions are solely those of the author and are subject to change without notice.http://home.tia)
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To: dajeeps

Right. Even the fools who think they’re getting free “Obama Money” will be paying for this.


39 posted on 01/12/2010 11:20:44 PM PST by BigSkyFreeper ("Ked Tennedy would have been plowed... I mean, proud today..." - Senator Max Baucus (Drunk-MT))
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To: Nachum

I guess Obama doesn’t think the 30% plus rates we pay for credit these days is enough.

What an a.h.


40 posted on 01/12/2010 11:22:38 PM PST by DoughtyOne (God, Family, Friends, Home, Town, State, the U.S., Conservatism, Free Republic & a dollar a day...)
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To: imahawk
Dont employ democraps ever again.

We cleaned house November 5, 2008 and we DON'T hire Democrats. We hire people who appreciate the benefits of capitalism.

41 posted on 01/12/2010 11:37:32 PM PST by April Lexington (Study the constitution so you know what they are taking away!)
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To: Nachum

then on Friday he will announce fees on top of the bank fees you know..


42 posted on 01/12/2010 11:47:37 PM PST by Ancient Drive (DRINK COFFEE! - Do Stupid Things Faster with More Energy!)
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To: April Lexington

This needs to go viral to businesses.How can a business owner even think of hiring someone that votes against them?


43 posted on 01/12/2010 11:48:27 PM PST by HANG THE EXPENSE (Life is tough.It's tougher when you're stupid.)
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To: imahawk
Viral? Any small business owner with half a brain and a payroll should have figured this out by now. DON'T REWARD COMMUNISTS WITH FREE MARKET BENEFITS. LET THE STATE FEED THEM....
44 posted on 01/12/2010 11:53:04 PM PST by April Lexington (Study the constitution so you know what they are taking away!)
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To: April Lexington

Look around at businesses and look who they employ because they get them cheap and you will see what I mean.Starve the beast.


45 posted on 01/12/2010 11:59:13 PM PST by HANG THE EXPENSE (Life is tough.It's tougher when you're stupid.)
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To: dajeeps
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.

No, he took gubermint 401 where he learned that businesses launder tax increases on the public and the sheeple are too stupid to know they will ultimately pay the freight. "I didn't raise your taxes; I stuck it to those greedy bankers / doctors / wall street barons ..."

46 posted on 01/13/2010 12:00:43 AM PST by NonValueAdded ("'Diversity' is one of those words designed to absolve you of the need to think." Mark Steyn)
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To: grey_whiskers
That is impeachable.

Yes indeed, let's tell Shrieker Pelosi and UberSenateFuehrer Harry Reid to get right on it, shall we? LOL
47 posted on 01/13/2010 1:12:23 AM PST by mkjessup
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To: Nachum

I have noticed that a double-take is needed lately at these financial meddling headlines to see if it’s us or Venezuela.


48 posted on 01/13/2010 1:29:24 AM PST by SpaceBar
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To: Nachum

Gee, that’s great. The banks won’t feel it, but we will.

Idiot


49 posted on 01/13/2010 1:31:47 AM PST by Aracelis
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To: Aracelis

“”Gee, that’s great. The banks won’t feel it, but we will.”

Obama knows this. He knows the banks won’t take the financial hit; we will. This is how he gets to tax the middle and lower class, through subterfuge, hoping we won’t figure it out. So, he looks like he isn’t taxing anyone but the rich, while he is really picking everyone else’s pockets. Politically very clever, isn’t it, and the dummies amongst us won’t figure it out. They’ll think their hero Obama is sticking it to the rich folk. What fools. And for those that do figure it out, we’re stuck with it, and have to hope that the demographics and/or the lack of brain power in this country hasn’t become so off kilter that we are all screwed.


50 posted on 01/13/2010 2:12:49 AM PST by flaglady47 (Time is running out.)
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