Obama proposes tax on large financial firms

To make up for the government’s $117 billion in projected bailout losses, the Obama administration proposed a tax on the bailout’s beneficiaries. “We want our money back, and we’re going to get it,” said the President. The proposed tax is expected to yield $9 billion in annual revenue.

About The Author

Felix Shipkevich

Felix Shipkevich is a Manhattan-based attorney and general counsel for Shipkevich Law Firm. He has extensive experience working with the CFTC and NFA on registration, compliance, and enforcement issues for CPOs, CTAs, FCMs, IBs, and RFEDs. Felix also practices intellectual property and corporate governance law.