Bloomberg – U.S. House Democrats are looking to JPMorgan Chase & Co., Goldman Sachs Group Inc. and Bank of America Corp. to pick up the tab for housing programs targeted by Republican budget cuts.
Representative Barney Frank of Massachusetts, the top Democrat on the Financial Services Committee, introduced a measure today that would impose a $2.5 billion levy on financial firms with more than $50 billion in assets and hedge fund managers with more than $10 billion in assets. The money would be collected through risk-based assessments.
