Why Obama's $90 Billion Bank Tax Is Fair Play


The White House is poised to propose a $90 billion tax on big banks to recoup losses from the Troubled Asset Recovery Program (TARP). After all the repayments banks have to make under TARP's original conditions, the government now expects losses of $117 billion to remain. If that's the case, the tax would be kept in force until the full amount of losses is recouped. The remaining losses so far come mostly from three money-eating "investments" -- American International Group (AIG), General Motors and Chrysler.