Obama Stands Up To Bankers With Massive Bailout Tax. Psych! WSJ Says Tax Will Claw Back Only 5% Of Their $145-billion “Compensation”

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Obama Stands Up To Bankers With Massive Bailout Tax. Psych! WSJ Says Tax Will Claw Back Only 5% Of Their $145-billion “Compensation”

news.google.com -- The fee would fall most heavily on the nation's top six banking companies: Citigroup Inc., J.P. Morgan, Bank of America Corp., Goldman Sachs Group Inc., Morgan Stanley and Wells Fargo & Co. Each is likely to face an annual tax bill of $1 billion or more, with Citigroup and J.P. Morgan facing the largest liabilities of more than $2.4 billion apiece.Some analysts estimated the tax could consume about 5% of this year's profits.