Obama seeking bank fees to cover billions in TARP losses

**triggerhappy2005** · 01-13-10, 05:12 AM

http://www.cnn.com/2010/POLITICS/01/...ees/index.html

I think this is a great idea. The numnuts still need some more spankings.

**WorstPE** · 01-13-10, 06:52 AM

Wait, let me get this right.

The government gave the banks billions of taxpayers dollars because the banks did horrible business pratice.

The banks took the money and gave it around to themselves.

The government wants to take all the money back, as it should. But now want interest on top of it.

Where is the interest coming from?

Oh yeah. The banks will do crazy stupid shit again.

**Nuckle** · 01-13-10, 07:14 AM

It will be interesting to see how the banks pass this along.

**BruceBloodMaster** · 01-13-10, 07:41 AM

Ummmm How about we Tax the FED they made $ 52 Billion in profits in 2009 ! Screw taxing the bankers they will just Pass the costs on to US........... Trigger get a grip !

**WileECyte** · 01-13-10, 07:50 AM

Originally Posted by BruceBloodMaster

Ummmm How about we Tax the FED they made $ 52 Billion in profits in 2009 ! Screw taxing the bankers they will just Pass the costs on to US........... Trigger get a grip !

The FED turns all 'profits' over to the Treasury, as mandated by its charter. The Federal Reserve System contributed over $31.7 billion to the Treasury in 2008.

**w4jchosen** · 01-13-10, 08:17 AM

Originally Posted by Nuckle

It will be interesting to see how the banks pass this along.

Higher interest rates.

**CivilWars** · 01-13-10, 08:42 AM

Wells Fargo and BofA have already repaid their TARP funds in full, and never wanted them. Didn't read the article, but why charge some banks for something they didn't want, and promptly gave back?

**jason_jinx** · 01-13-10, 08:50 AM

What does "to big to fail" really mean?

**Glitch** · 01-13-10, 09:09 AM

Originally Posted by WileECyte

Originally Posted by BruceBloodMaster

Ummmm How about we Tax the FED they made $ 52 Billion in profits in 2009 ! Screw taxing the bankers they will just Pass the costs on to US........... Trigger get a grip !

The FED turns all 'profits' over to the Treasury, as mandated by its charter. The Federal Reserve System contributed over $31.7 billion to the Treasury in 2008.

In case you missed it, that means the Fed is taxed at a rate of 100%... Bruce are you suggesting we tax them at a rate higher than 100%?

**~~hawgballs~~** · 01-13-10, 09:15 AM

Originally Posted by CivilWars

Wells Fargo and BofA have already repaid their TARP funds in full, and never wanted them. Didn't read the article, but why charge some banks for something they didn't want, and promptly gave back?

But Gibbs said it is the president's "goal" to ensure the "money that taxpayers put up will be paid back in full."

I don't see what the problem is by collecting some interest on money loaned to the banks, whether they paid back in full or not, and whether they wanted the money or not. Especially when it is going to pay back what taxpayers loaned out. Are you really complaining about the treasury collecting it's debts?

It costs them(the banks) little, considering they collected interest on those funds while holding them, so why shouldn't they have to forfeit that interest? I mean, if they didn't want the money, why should they be able to keep the interest accrued? And if they invested, it was likely done through arbitrage.... in which case, the interest paid to borrow funds was already included in the trade's P&L, and shouldn't hurt their profits so much.