Word: obamas
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...lenders to pay up in response to the global financial blowout are gaining momentum. German officials announced plans Monday, March 22, to start taxing banks as a way of squirreling funds for any future bailouts, with details expected to come before the end of the month. U.S. President Barack Obama unveiled proposals in January for a $90 billion bank tax designed to recoup public money used to shore up the nation's lenders. No-nonsense Sweden, meanwhile, has already implemented its own version. But amid this consensus on the need to charge banks, doubts over the merit of the schemes...
...Timothy Geithner pooh-poohed it as "not something we're prepared to support." But Darling's call for a global bank tax could yield something closer to the U.S. vision. Such a levy might involve taxing banks' wholesale funding, in line with the Financial Crisis Responsibility Fee proposed by Obama in January...
Reaction is mixed to President Obama's plan to prevent up to 4 million homeowners whose mortgages are underwater from defaulting on their loans over the next three years...
After a year of political posturing and rancorous debate over healthcare, President Obama signed the Patient Protection and Affordable Care Act into law Tuesday, codifying reforms that will indelibly transform the insurance industry. This represents the most drastic form of federal action on domestic affairs since the institution of Medicare decades ago. While the partisan combat will likely continue, this moment belongs to the Democrats. In this victory that has eluded several administrations in the past, the passage of healthcare reform marks a monumental accomplishment for President Obama, Speaker Nancy Pelosi, and the Democratic Party...
Meanwhile, amidst the muddling political circus in Congress, Obama and his administration showed tenacity in refusing to forfeit their vision for reform. Campaigning on the promise of fixing America’s unfair and unsustainable healthcare system, Obama put reform at the top of his political agenda and did not allow the debate to disappear from the public consciousness. As calls to throw out the bill and begin from scratch grew raucous upon Brown’s stunning election in January, Obama and his team increased their efforts by appealing directly to members of both parties and their constituents...