Here are some comments about President Obama's plans to raise $90bn over the next 10 years by imposing an additional tax obligation on banks.
Jefferies announced that the firm will donate all net commissions and volunteered salaries from January 15th, plus $1 million, for relief efforts associated with the recent earthquake in Haiti. The contribution will be split evenly between The American Red Cross, Save the Children, UNICEF and the UN Central Emergency Response Fund (CERF) for relief efforts directly involved with the aftermath of the earthquake.
So said US President Barack Obama, as he announced the tax levy on around 50 of the world's largest financial institutions, which is designed to raise around $90bn over the next 10 years.
Citi is to donate $2m to the Haiti relief effort. The firm looks to have been the firm most badly effected by the tragedy, as its HQ building there collapsed, a some Citi staff sadly lost their lives.
Goldman boss Lloyd Blankfein, JPMorgan Chase CEO Jamie Dimon, Morgan Stanley chairman John Mack and Brian Moynihan, the new man at the helm over at Bank of America, were in Washington Wednesday, called to testify before the Financial Crisis Inquiry Commission.
Testimony of Michael Mayo, Managing Director and Financial Services Analyst Calyon Securities (USA) Inc, before the Financial Crisis Inquiry Commission.
Here's the background to Wednesday's Financial Crisis Inquiry Commission hearings.
Brian T. Moynihan, Chief Executive Officer and President, Bank of America Testimony to Financial Crisis Inquiry Commission (FCIC) Washington, D.C.
Testimony of Jamie Dimon, Chairman and CEO, JPMorgan Chase & Co before the Financial Crisis Inquiry Commission January 13, 2010
Here's the written submission of Morgan Stanley to the Financial Crisis Inquiry Commission