President Obama details the proposed Financial Crisis Responsibility Fee, to raise $117B over 12...

|By:, SA News Editor

President Obama details the proposed Financial Crisis Responsibility Fee, to raise $117B over 12 years ($90B in the next 10 years). The fee, effective June 30, would apply to about 50 companies with assets over $50B, but not hedge funds or mutual funds. The 10 biggest firms would end up paying 60% of the total. (White House fact sheet (.pdf))