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US to announce payback time for banks


US to announce payback time for banks


President Barack Obama will this week announce plans to raise up to 82 billion euros from the biggest US financial firms that received government bailout money.

A White House official said they would be charged a levy spread over as much as ten years.

The move is intended to address public anger that some financial firms are poised to resume paying big bonuses.

The White House also said President Obama’s emergency spending measures last year saved up to two million US jobs, but it warned that the outlook for the economy remained uncertain.

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