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
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.
An industry official said consideration of a levy now would be premature.
"Current law doesn't trigger this tax proposal for another four years," said Scott Talbott, chief lobbyist for the Financial Services Roundtable, an industry group for some of the largest financial firms.
"We look forward to seeing the details of the complexity of the formula, of who it's applied to and what the assessment is based on and when it is applied," he said.
Government officials have conceded that they don't expect to recoup billions in TARP money used to rescue insurance conglomerate American International Group Inc. and the auto industry. Banks have been repaying their infusions, in part to get out from under compensation limits imposed on the bailout recipients. Banks have also paid dividends from the government help.
The administration is projecting the losses to the government from the bailout program will be about $120 billion, most of it due to auto and AIG assistance.