Obama defends plan to charge banks to recoup TARP funds

In his weekly radio and Internet address, President Barack Obama defended his proposal to subject as many as 50 financial institutions to a levy to recoup the cost of the Troubled Asset Relief Program. Obama also vowed to enact legislation that would rein in practices and strategies that caused the financial crisis. Meanwhile, Democratic leaders in the House said they think Congress will support the fee. "I think Congress will go along," Rep. Chris Van Hollen said. "There's a real sense in Congress that it's time for the banks to pay back the taxpayers."

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