Financial Firm Levy- Word on the street

Word is they are looking to charge about 15 basis points on assets-FDIC assets are exempt to avoid double charge. What does this mean? Well, Jamie Diamond hinted yesterday that these fees tend to be passed on to customers. It was not a hint. It will happen. More spin city to calm the anger over bonuses. In my opinion, this is a non-event. The fees will be passed on to consumers as usual. Continue to hold financials into earnings.