Obama administration eyes bank fees
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The Obama administration will seek to recoup taxpayer funds used to rescue the ailing financial system, the White House said this morning amid reports that a fee on banks was one option under consideration.
White House spokesman Robert Gibbs told reporters that the president remains committed to getting back the funds given the banks, but he ducked any specifics on a bank fee.
“The president has talked on a number of occasions about ensuring that the money taxpayers put up to rescue our financial system is paid back in full. That’s been the president’s position and that is the least that taxpayers are owed,” Gibbs said.
The goal is to have taxpayer funds repaid in full, Gibbs said, but despite several questions, he refused to talk about any details.
“I don’t have specifics on what will be in the budget,” Gibbs said, adding that there will be details later in the month when the administration releases its budget proposal.
The bank fee idea is being floated as political questions arise about the size of the U.S. debt and as financial institutions are reporting an excellent year. Revenue has jumped to the levels enjoyed before the 2008 meltdown, and there have been reports that banks are considering large bonuses and other compensation for some employees.
Those payments come as unemployment remains at 10% and polls show the public remains unhappy about the economy in a midterm election year.
-- Michael Muskal
