$117 billion over 10 years in new fees for the banks or until the TARP’s paid back?
Surely, our President must be joking!
The taxpayer’s on the hook currently for several trillion dollars in loan guarantees, hedge fund managers are still paying only 15% tax on their incomes, and Helicopter Ben remains in the sky showering the banks with cheap money for their next bubble.
Oh, and the longer-term fiscal outlet is dire, there’s little or no chance of the Congress raising taxes, or cutting back spending on things like the Pentagon and health care, but boy, nearly $12 billion/year or 0.004 percent in new revenue will be coming into the coffers of a Treasury that spends $3 trillion/year!!!
Gorilla asks: “Why not go for a toaster and a coffeemaker, too?”
