TARP Tax Trickery: Banks Won't Really Pay Back All $90 billion


Remember that story last week about the new tax proposed by President Obama, which will be designed to recoup $90 billion in lost TARP money from the nation's largest financial firms? Well, there's a catch: The banks won't actually be repaying $90 billion. They'll only have to pay $58.5 billion, because the "Financial Crisis Responsibility Fee" will be tax deductible.