Obama seeks 15bp charge on bank debt to recoup $117bn outstanding Tarp fund

obama-big-jpg

The White House has proposed levying a new 15-basis-point tax worth up to $117 billion on the largest US financial institutions in an effort to compensate taxpayers for “massive profits and obscene bonuses” being awarded at US financial institutions that benefited from extraordinary public assistance during the worst of the financial crisis.

The Obama administration plans to impose a Financial Crisis Responsibility Fee on the debt of the largest financial firms for at least 10 years, but even

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

Register

Want to know what’s included in our free membership? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here