Obama Issues Plan To Pay Taxpayers Back For TARP

Law360, New York (January 14, 2010, 1:02 PM EST) -- President Barack Obama on Thursday announced that he will seek to levy a new fee against the 50 biggest financial firms to raise $90 billion over the next 10 years and repay taxpayers for their “extraordinary” assistance through the Troubled Asset Relief Program.

The Financial Crisis Responsibility Fee would, beginning June 30, hit financial firms with consolidated assets in excess of $50 billion and last for10 years or longer, depending on how long it takes to repay the full $117 billion in projected TARP costs, according...
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