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DODDS SUPPORTS PRESIDENT’S FEE TO RECOUP TARP FUNDS

January 14, 2010

WASHINGTON – Today Senate Banking Committee Chairman Chris Dodd (D-CT) voiced his strong support for the President’s proposal for a Financial Crisis Responsibility Fee that would require the largest and most highly leveraged Wall Street firms to pay back taxpayers for the extraordinary assistance provided so that the TARP program does not add to the deficit.
 
“The President has it right,” said Dodd.  “Wall Street owes a great debt to the American public and we have the right and the obligation to recoup as much money as we can for the taxpayers.  The taxpayers wrote the check that saved these firms.  If it wasn’t for the American taxpayers, they would just be empty offices now.  It’s time for Wall Street to return the favor.”
 
“We may also consider additional means to limit executive compensation as part of our financial reform efforts,” Dodd added.
 
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