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Back to the Blog Coffee and Markets: What Obama's Big New Bank Fee Means for You

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For the past year, Francis Cianfrocca and I sat down every weekday morning to chat about politics, economics and the shifting global marketplace. It’s been loads of fun and we’ve gained a few thousand listeners — all of whom we love in an intimate and personal way. But Francis is a busy fellow with a thriving business, and I have my own responsibilities with the New Ledger and the Heartland Institute — and rather than worry about losing any quality in these podcasts, we’ve decided that for 2010, we’ll shift to recording once a week. I hope you don’t mind, and we’ll still jump in with an emergency episode or two if breaking news demands it. As always, just email us at coffee at newledger.com if you have any questions. Thanks for listening, and welcome to today’s edition of Coffee and Markets, a weekly podcast from The New Ledger, brought to you by BigGovernment.com.

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Bloomberg: Obama to Announce Fee on Large Banks

Tapper: Question for Gibbs

TAPPER: On the fee for banks, without asking for any details,* how can you guarantee that this, that this fee, tax, levy, whatever it ends up being, is not passed on to consumers and they take another hit when it comes to Wall Street?

GIBBS: Yeah, well, look, obviously, Jake we’ll have a chance to go through the structure of this. The economic team has worked for quite some time on a structure that will ensure that what taxpayers gave to banks to ensure their safety and security, in a time of crisis, is paid back in full. And I can assure you that is one of the things the economic team has taken into account in the structure.