January 12, 2010
“Obama plans to raise as much as $120 billion through a fee on financial institutions to help recoup losses from the Troubled Asset Relief Program and reduce the deficit, according to an administration official… The proposed fee revenue is almost three times what analysts expect the 10 biggest U.S. banks earned in 2009.”
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January 12, 2010
“The numbers are good news for the federal budget, a sign that the Fed has been successful in protecting taxpayers as it intervenes in the economy, though there remains a risk of significant losses in the future if the Fed sells some of its investments or loses money on its stakes in bailed-out firms.”
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