WASHINGTON — Treasury Secretary Tim Geithner used a hearing on the bailout of American International Group Wednesday to repeatedly endorse President Obama's plan to impose a 15 basis-point tax on large banks and restrict their growth and activities.
Although many observers have questioned whether those proposals contradicted Geithner's own views, the Treasury secretary left little doubt that he backed the ideas. "If you join with the president in adopting his proposed financial responsibility fee, American taxpayers will not have to pay one cent for the actions we took in AIG or the actions we took with the authority Congress gave the administration to stabilize this financial crisis," Geithner said.
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