Obama To Announce 'Financial Crisis Responsibility Fee'
President Obama will formally unveil today his proposed "Financial Crisis Responsibility Fee," a fee on 50 of the largest financial firms, in order to recoup taxpayers' money from the TARP bailout. The proposal is aimed at raising $90 billion over the next ten years, and will bring the total cost to the government of the bailout down to $117 billion, including both the fee and money that has been paid back..
Read More →
Obama's Day Ahead
President Obama and Vice President Biden will receive the presidential daily briefing at 10 a.m. ET. Obama will meet at 10:30 a.m. ET with senior advisers, and at 11:05 a.m. ET with Secretary of Veterans Affairs Eric Shinseki. At 11:50 a.m. ET, he will deliver remarks to announce the new financial crisis responsibility fee, to be levied on large financial institutions. He will have lunch at 12:05 p.m. ET with Vice President Biden. At 1:45 p.m. Et, he will deliver remarks at the opening session of the Forum on Modernizing Government. He will receive the economic daily briefing at 2:15 p.m. ET, and meet at 3 p.m. ET with Secretary of the Treasury Tim Geithner. At 5:05 p.m. ET, he will deliver remarks at the House Democratic Caucus retreat.