Posted on 01/11/2010 11:58:58 AM PST by NormsRevenge
WASHINGTON (Reuters) – The Obama administration is considering imposing a fee on banks to help recover some of taxpayers' costs of bailing banks out from the financial crisis, according to multiple reports on Monday.
The White House said President Barack Obama wants to ensure that taxpayers are paid in full. "That's the president's goal," White House spokesman Robert Gibbs told reporters. He declined to provide details on how that might be done.
Politico, the Wall Street Journal and New York Times, in nearly identical stories on their websites, cited administration officials saying that a bank fee was under consideration and might be included in the president's budget proposal next month.
Such a fee, which would likely be highly popular with taxpayers still angry at bankers who are preparing to reap huge bonuses, could be part of next month's budget. Exactly what form such a fee might take will be hotly discussed but it is unlikely to be a broad-based fee on transactions.
A fee on financial transactions was suggested by British officials at a meeting of Group of Seven finance ministers last fall, but was opposed by U.S. Treasury Secretary Timothy Geithner.
An official from the White House's Office of Management and Budget, asked on Monday if a bank fee was being mulled, did not reject it out of hand but would not confirm it either.
(Excerpt) Read more at news.yahoo.com ...
HAHAHHA You know how this is going to be paid if approved? By the banks charging US a fee on our bank accounts to repay OURSELVES! Way to go Dumbo, screw the citizen a little more.
He’s a bufoon
The White House said President Barack Obama wants to ensure that taxpayers are paid in full.
And amazingly people will think they are getting a "good deal." Of course the banks will simply raise fees on customers to cover this cost.
“We’ll put pennies back in their left pocket while taking trillions out of their right, and the fools will think it’s a gift.”
So... wouldn’t the banks just pass along the fee to consumers of their services?
“The Obama administration is considering imposing a fee on banks to help recover some of taxpayers’ costs of bailing banks out from the financial crisis, according to multiple reports on Monday.
The White House said President Barack Obama wants to ensure that taxpayers are paid in full. “That’s the president’s goal,” White House spokesman Robert Gibbs told reporters. He declined to provide details on how that might be done.”
Hilarious. Yes, Obama, keep on helping those taxpayers out.
Wasn’t this money paid back in full with interest? Just sayin...
How stupid can these idiots get?
Charge a tax to pay a tax?
Never stops amazing me, the sheer stupidity of the morons that are in charge.
“Animal House” all over again!
Some of the banks have paid it back, but not all.
This is just another tax. He’s a complete idiot and is driving this country into the ground.
So a bank received $50 BILLION because it had inadequate financial reserves.
Just how much is this fee that it will pay back $50 BILLION without jeopardizing the bank that already has inadequate financial reserves?
Heres an idea, let the failing banks (CITICORP) fail and then let the successful banks win. For libs, think of it like abortion or Darwin. Practice what you preach.
Whatever...it will be paid by customers anyway.
“The banks would pass the fees to the customers but I guess in Obama’s book that wouldn’t be a tax since the Government’s not doing it.”
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Indeed! Sneaky, aren’t they?
These people are utter a-holes.
The reality is, it is deadbeats on mainstreet not paying banks what they owed them that made this mess in the first place, and they will pay them back, politics be damned. If they have to pay it as interest on government bonds the bank holds for a generation, or a quarter point higher rates, makes no difference.
Capital is paid in full or it evaporates and you lose its services. Law of nature. You can no more legislate it away than outlaw gravity.
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