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US Banking Levy Expected to Raise $90 Bln

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LEVY SURE SOUNDS BETTER THAN TAX!
"President Barack Obama will announce on Thursday a sweeping levy on about 50 financial institutions that will raise an estimated $90bn to reduce the federal debt," the Financial Times reported. "The “financial crisis responsibility fee" will hit investment banks such as Goldman Sachs particularly hard because insured deposits, the main funding mechanism of retail and commercial banks, are exempt from the charge that is levied on other liabilities."
SOURCE:   Financial Times

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