The more virtuous would on the contrary less premiums

It is the political subject of the moment: how to better control the banks and their compensation practices while tension in public opinion rising profits and record bonuses that they are getting ready to unveil Each of the authorities involved, of the Federal Reserve to the Congress through the Federal Deposit Insurance Corporation and the White House understands the subject differently. Monday, Barack Obama spokesman confirmed that the President wanted to cover all costs related to the Troubled Assets Relief Program (TARP), the amount is high at 700 billion dollars for the taxpayer. It is not directly affect the remuneration but rather to take a measure of fairness (punitive, argue some) with institutions that brought the financial system on the ground and were saved by public funds. According to official sources, the President would seek to recover $ 120 billion, the amount of the TARP losses estimated by the Treasury, which come primarily from vehicle manufacturers and AIG's. The details of this tax, whose principle is not yet endorsed, could be revealed month next in the 2011 budget.

The France and Britain, who have chosen to tax banks on bonuses that they pay to the title of the year 2009, the American authorities are seeking an alternative because they consider their limited power to govern the compensation of private companies. They want a tax on bonuses or a tax on financial transactions. Financial institutions who have been helped already reimbursed 165 billion, on 240 paid billions to stabilize the financial system. The Treasury received 12.9 billion in interest and dividends and has recorded to date a return on investment of 8.

"Reducing the deficit."

The banks consider that from the moment they have repaid with interest , it is unfair to ask them more. Especially when the President asked with insistence to open the gates of the credit to small businesses. But the spectacular profits that some will announce are also due to the Fed support programs and access to low-cost money. Distinct elements of the TARP. The legislators, who are preparing for the November mid-term elections, are receptive to this unexpected manoeuvre of the White House. "The Congress will examine certainly any proposal which could reduce the deficit and allow to cover more of the TARP money," said the spokesman for Nancy Pelosi, the Democratic leader of the House of representatives.

Yesterday, at the end of a Board of Directors controversial, the Federal Deposit Insurance Corporation (FDIC), which ensures deposits of banks, brought its stone to the debate. It launched an appeal to thirty day comment on a proposal which would bind the premiums it collects banks in their management of the risk. Those who encourage their employees to take too many risks should pay more to the FDIC in exchange for the insurance of deposits. The more virtuous would, on the contrary, less premiums. "It is to influence the structure of the remuneration, not their level", said its President, Sheila Bair, who want to push the measure yesterday. But it has been the refusal of two of the five members of the Council: John Dugan, in charge of the Comptroller of the Currency, and John Bowman, of the Office of Thrift Supervision, which consider this initiative premature while the Fed and Congress prepare their own measures.

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