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Obama Administration Considers Fee on Banks to Recoup Bailout Funds

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A TASTE OF THEIR OWN MEDICINE
The Obama administration is considering levying a fee on banks, which would recoup taxpayer funds spent to rescue the financial sector and auto companies, according to administration officials, the Wall Street Journal reports.

The proposal is still under discussion and no final decision has been made as to what form it might take. The concept is expected to be included in next month's budget, even without specific details, and as such could also be presented as a way to reduce the U.S.'s large deficit.

It will be fun to hear these complaints about higher bank fees.

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