How many of you fell for Obama's attempt to silence the outrage coming from all sides of the political spectrum with his Financial Transaction Fee plan??
"The new tax will be levied against bank assets. The banks will pay a tax of 0.15% of their total assets minus their deposits, high-quality assets such as common stock and retained earnings.
Any financial institution that received TARP money or government guarantees of their debt and has $50 billion in total assets will be taxed.
The new tax exempts General Motors and Chrysler. The administration says this exemption is fair because those companies collapsed by the financial crisis it blames on banks. That’s a bunch of baloney. The real reason is we are already stuck paying for them. Hooray no Triple Dipping right now the $68.5 billion already lost by the Taxpayers on this exemption and the Half Trillion lost on Fannie and Freddie will do for a while.
Thanks but no thanks I know Obama said his biggest accomplishment was the bank bailouts but he can Keep the Change for the Worse! As one of the banksters said when they were called for the Fat Cat Bankers meeting by Obama....
"It's a p.r. stunt," says an executive at one of the banks that will be getting a dressing-down at the White House meeting"
While it may be a "p.r. stunt to the banks" it will be real money to you.