The International Monetary Fund has done what it was bid by the G20 and come up with proposals for getting banks to pay for the government help they receive when they get in trouble. You can read the actual wording here, but it comes down to this:
Financial Regulatory Forum
By Alister Bull and Karey Wutkowski
WASHINGTON, Jan 20 (Reuters) – President Barack Obama, reeling from an election defeat in the U.S. Senate, will propose stricter limits on financial risk-taking on Thursday in a move that may recall Depression-era curbs on banks.
By Caren Bohan and Alister Bull
WASHINGTON, Jan 14 (Reuters) – U.S. President Barack Obama on Thursday proposed Wall Street banks pay up to $117 billion to reimburse taxpayers for the financial bailout, as he slammed bankers for their “massive profits and obscene bonuses.”
By Alister Bull
WASHINGTON, Jan 14 (Reuters) – President Barack Obama on Thursday will propose major U.S. financial firms pay a fee to protect taxpayers from up to $117 billion in losses on a bank bailout that has spurred fury at Wall Street excess.
By Karey Wutkowski and Steve Eder
WASHINGTON/NEW YORK, Dec 11 (Reuters) – The U.S. pay czar on Friday expanded a crackdown on pay packages at four companies rescued with taxpayer money, limiting most cash salaries at $500,000 for a second tier of top earners.
By Kevin Drawbaugh and Karey Wutkowski
WASHINGTON, Nov 3 (Reuters) – Congressional Democrats need more time to debate the funding for an Obama administration “resolution authority” bill for dealing with troubled financial firms, likely pushing committee consideration of the measure into next week, said lobbyists and a House aide on Tuesday.
WASHINGTON, Oct 27 (Reuters) – A key U.S. congressional committee was expected on Tuesday to release draft legislation agreed with the Obama administration that will restrict future bailouts and create a new protocol for government handling of giant financial firms that get into trouble, a senior congressional source told Reuters.
By Karey Wutkowski
WASHINGTON, Oct 21 (Reuters) – Congress should eliminate any possibility of temporary bailouts in draft legislation that would give the government power to break up troubled, systemic financial firms, a top U.S. bank regulator said on Wednesday.
HAMBURG, Germany, Oct 7 (Reuters) – The financial sector faces big challenges even after governments intervened massively to prop up tottering banks, the head of Germany’s nearly 500 billion euro ($735 billion) bank rescue fund Soffin warned. (more…)