“The President wants big financial firms to pay for “The Great Credit Crunch” in a levy I call, “The Wall Street Greed Tax.” Last year was a record for foreclosures, 2010 will be worse. Today is round ten of the Dow Title Bout between the Bull and the Bear. The weak groups so far this year.
President Obama wants a “Wall Street Greed Tax.” The president proclaims, “We want our money back” when it comes to the estimated $117 billion in TARP losses. He wants to levy the “Wall Street Greed Tax” on all financial companies including; the big banks, insurance companies and foreign branches of global banks, and the broker / dealer community. The tax will total $90 billion over a ten year period…”
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About Richard Suttmeier:
Richard Suttmeier’s latest blog analyzes earnings from Intel, the most important technology stock, JP Morgan Chase, the most important “too big to fail” bank, and break-out’s for Comex copper and Nymex crude oil.
Richard Suttmeier is the chief market strategist for ValuEngine.com. Richard is an industry leader on the housing market and banking system and writes a newsletter covering The Great Credit Crunch. He produces a List of Problem Banks by name. He produces daily and weekly briefings covering the US Capital markets. Richard Suttmeier’s ValuEngine Four In Four video is available on forextv.com.
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