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"Obama seeking tax on biggest banks


He just doesn't 'get it' ....  anything that cuts into bankers' bottom line will be passed on to the consumer and result in higher fees for depositors. 

"AP source: Obama seeking tax on biggest banks

" ......Asenior administration official said the tax, which officials arecalling a "financial crisis responsibility fee," would apply only tofinancial companies with assets of more than $50 billion. Those firms -estimated to amount to about 50 institutions - would have to pay thefee even though many did not accept any taxpayer assistance and mostothers already paid back their government infusions......."


Entry #1,590


Comment by reddog - January 14, 2010, 8:43 pm
Konane, keep up the good work on keeping us informed . Maybe someday we can get this idiot out of office. Hopefully before 2012.
jarasanComment by jarasan - January 14, 2010, 9:10 pm
This is getting ridiculous. Great! Now borrowing becomes more expensive as interest rates go up!
konaneComment by konane - January 14, 2010, 11:38 pm
Thanks Reddog! Thanks much for reading and commenting. I wish congress had the guts to begin impeachment based on disregarding the Constitution with his actions. However, we seem to need to vote in a new congress while we're at it.
konaneComment by konane - January 14, 2010, 11:41 pm
Thanks Jarasan! That was my initial take when reading it. Commercials aired here awhile back characterizing bankers as literal greedy pigs so we know if they get cut into they're going to raise fees and invent new ones to soak us all. They're not going to take the hit, we will.

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