Obama says the banks have to pay all the money back we gave them . Bankers cry like like babys . Is this really fair , what about the small business man , it well make him not hire any mexicans @3dollars an hour . Is this fair they need that money how are they going to pay there private club fees ride there private jets . God is this country going to hell .
I FOR ONE REALLY LIKE OBAMA RIGHT NOW . IN FACT RIGHT NOW HES THE BEST PRESIDENT WE HAVE EVER HAD .

President Obama : "We want our money back," he said.

Amen

UNION UNION UNION

Haven't most of the banks payed the TARP money back allready?
Some of them didn't even want the money now they are going to be taxed.

The plan, if approved by Congress, would levy the tax on up to 50 financial services companies based on the total size of their liabilities. White House officials estimates it will raise at least $90bn over the next decade and wrest back for the taxpayer the money given the banks as part of the $700bn Troubled Asset Relief Programme (TARP).

Mr Obama said the move is aimed at preventing Wall Street firms from going back to "business as usual" and resuming high-risk lending practices and huge bets on mortgages and other instruments he blames for igniting the financial crisis.


Crunch time for reforming banks "My commitment is to recover every single dime the American people are owed," said Mr Obama.

"My determination to achieve this goal is only heightened when I see reports of massive profits and obscene bonuses at the very firms who owe their continued existence to the American people – have not been made whole, and who continue to face real hardship in this recession."

His announcement comes amid rising public anger in America at the prospect of the titans of Wall Street handing out multi-million dollar bonuses to staff little more than 12 months after the financial system was rescued by the brink.

Wall Street’s top bankers on Wednesday apologised for their starring role in provoking the global financial crisis as part of an investigation into its causes.

The tax, which is officially called the Financial Crisis Responsibility Fee, has already drawn stinging criticism from bank bosses who argue it will hobble a wider recovery in the world's biggest economy.

“Using tax policy to punish people is a bad idea,” Jamie Dimon, the chief executive of JPMorgan, said yesterday. “All businesses tend to pass their costs on to customers.”

I want the collective bonuses paid out to the crooks and scam artists for the 10 years preceding the debacle. I want those frickin bonuses which were collected even as they knew they were selling "air".

That's a lot of bonuses!

I am glad more pressure is being put on banks and the housing industry as well as more regulation. I think Obama is best President we have had.

How convenient.

Most businesses don't have the luxury of having moral hazard work in their favor like the 'Too Big To Fail' banks. Mr. Dimon and his ilk have ALREADY passed on their _losses_ ( or should we say *cough* "costs") to us. Personally, I think they should be given a taste of their own medicine and have to pay the money back at APR's of 30% like the worst of the worst in the credit card game.

Not to mention having the Glass-Steagall act re-instated and being mandated to appear in sackcloth and ashes for future bailouts.


-Kerry O.

I want Rubin and Greenspan to wash my car!!

lot's of wishful thinking.

what I realy like about OBAMAs plan is even banks that didn't take it well have to pay ....ha ha ha ha . god its nice to see those thiefs get sum pay back .

wait...if they didn't take the money, why should they have to pay it back?

PAUL VOLKER SAID WE NEED THIS . THERE ARE FEW PEOPLE WHOM i BLINDLY trust BUT PAUL VOLKER IS THE ONE I TRUST THE MOST ..
Cause there such nice people we knew they would want it that way.

they did done tooked it!

What about the car companies? They got bailed out!

Why not levy a 20 % tax on all current and future Senators and House of Representatives for repealing the Glass-Steagall act.

How is forcing banks that were not involved to "pay for the bailout" fair? How is forcing banks to cover the auto's part of the bailout fair? Seems to me good old American values are somewhat skewered under Obama.... I'm going to get that money back from someone.

Businesses aren't stupid....cost go up....consumers PAY. Is this tax going to help improve unemployment?

This chart show what happened once Congress repealed the Glass-Steagall Act....



How much of the banks debt is at 30%? It's a drop in the bucket when you consider all the home loans, commercial loans, etc. So maybe when the banks raise your home loan to 30% you will have a valid argument as to chargin the banks 30% for bailout monies that many have paid back. What about the banks that were forced to take the bailout monies? Now here is the killer - How in the world, if the banks were in such bad shape did they manage to pay most of the bailout money back so quickly?

Banks are just enemy # 1 now for the American people...kinda like the oil companies were shortly ago...Obama goes after the banks...oh my, all of a sudden he's more popular....

So who is really to blame? Congress and the Feds keeping interest rates too low.

SSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSS
AND ???????????
the reason they are going after the other banks is the reeped the rewards thru there back door from the government . plus it well make the bank more stsble .we won't have to bail them out again . MAYBE ........

ACTUALLY there is a long list of politicains who made a big profit on the bank deals . they collected large sums from the banks . JOHN KERRY IS ONE he got $19,000,000. for selling out . I guess you have to pay more if its a STATESMAN . That is johns self describtion of him self.

We should have never bailed them out in the first place.
If congress would have made then take the sub prime loans they would have never gotten into the trouble they were in. And wouldn't have needed to be bailed out. they should have let them fail then maybe they would have learned!

Those EVIL "fat cat" bankers need to be punished...just not the ones who caused the housing collapse, and who write big checks to democrats and the president at election time!