After days of speculation, the president today confirmed reports that the government will seek to recoup losses from its massive financial system bailout by proposing a new tax on major banks.The announcement comes as politicians and critics wring their hands over news that the country's top five financial institutions Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase and Morgan Stanley have allocated roughly $90 billion for overall compensation, with bonuses comprising more than half that figure.But Obama showed little sympathy for the argument that taxing the banks is unfair.
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