AP source: Obama to announce bank fees Thursday

By Jim Kuhnhenn And Philip Elliott, Associated Press Writers

WASHINGTON — President Barack Obama plans to announce a new fee Thursday on the country’s biggest financial firms to recover up to $120 billion in taxpayers’ money used to prop up corporations during the economic crisis, a senior administration official said.In proposing a multiyear levy on big banks, Obama is targeting an industry whose political deafness has vexed his administration. Banks once threatened by the undertow of a Wall Street collapse are now posting profits and proposing robust bonuses for their executives

 Read more: USA Today


January 13, 2010 - Posted by | Uncategorized | , , , ,

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