Source: Obama Considering Tax on Rescued Banks

[WillowTree]

WASHINGTON -- Targeting an industry whose political deafness has vexed his administration, President Barack Obama is weighing recovering tax dollars from government-rescued financial institutions with a levy.

The proposed levy could put Obama on the popular side of public opinion that is decidedly against Wall Street and angry over shortfalls in a $700 billion bank bailout fund.

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 idea received an early boost from Speaker Nancy Pelosi, the top Democrat in the House, where there have been calls for a hefty tax on bank bonuses.

"While we have not seen any specific language from the administration, Congress will certainly examine any serious proposals to lower the deficit and recoup even more of the TARP funds for the taxpayers," said Nadeam Elshami, a spokesman for Pelosi, D-Calif.









FOXNews.com - Source: Obama Considering Tax on Rescued Banks

 

[ba1614]

Weren't the talking points about TARP making money, not to long ago?

 

[Meister]

Sounds like moving the goal posts as you go. I see a lot of law suits coming up in this debacle.
I'm still against us ever giving the bailouts to the banks, and it just gets reinforced as each month goes by.

 

[WillowTree]

obamie desperate for money.. tax the banks, tax, the corporations, tax the unions and they pass it on to the American Taxpayer there's a lot obamie don't know isn't there????

 

[Meister]

obamie desperate for money.. tax the banks, tax, the corporations, tax the unions and they pass it on to the American Taxpayer there's a lot obamie don't know isn't there????

Yes there is, Willow. There's a lot he don't know.
One thing is for sure, his teleprompter sure ain't going to pay the bills.

 

[concept]

Tax the banks but they will just pass that on to the consumer.

 

[Yurt]

obama's finally realizing he can't afford all his socialist and supposedly lofty goals

 

[Vortex]

See what happens? You do one deal with the Mafia and they demand protection money.