Obama Calls for New Tax on Banks – NYTimes.com

Flanked by his economic advisers at the White House, Mr. Obama used some of his harshest language to date against the resurgent financial industry.“We’re already hearing a hue and cry from Wall Street suggesting that this proposed fee is not only unwelcome but unfair, that by some twisted logic it is more appropriate for the American people to bear the cost of the bailout rather than the industry that benefited from it, even though these executives are out there giving themselves huge bonuses.”Mr. Obama continued, “What I say to these executives is this: Instead of sending a phalanx of lobbyists to fight this proposal or employing an army of lawyers and accountants to help evade the fee, I suggest you might want to consider simply meeting your responsibilities.”

via Obama Calls for New Tax on Banks – NYTimes.com.

via Obama Calls for New Tax on Banks – NYTimes.com.

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