Mr Cooper Group Inc (COOP)

[Dragynn]

Well looky looky here, at who has "sources" on Capitol Hill, is already bashing the proposed big bank tax that would cost JPM 1.5 billion, and was recently the bain of Wamuq:

http://www.businessweek.com/news/2010-01-14/obama-tax-may-cost-jpmorgan-bank-of-america-1-5-billion-each.html

Jan. 14 (Bloomberg) -- The Obama administration’s proposal to tax financial firms may cost JPMorgan Chase & Co. and Bank of America Corp. more than $1.5 billion each, hinder the industry’s recovery and stifle investor interest in bank stocks, analysts and investors said.

“This is not conducive to an investor-friendly environment,” said Peter Sorrentino, who helps manage $13.8 billion at Huntington Asset Advisors in Cincinnati. “Profit will be hampered by this tax. It keeps the industry hobbled and it never gets healthy or out from under the thumb of the government.”

Bank of America, the largest U.S. lender, would owe $1.53 billion, or 18 cents a share, while JPMorgan, the No. 2 U.S. bank, would owe $1.52 billion, or 38 cents a share, according to a report today by Wisco Research LLC analyst Sean Ryan. The tax would amount to 22 percent of Bank of America’s expected 2010 earnings per share and 12 percent of JPMorgan’s, Ryan wrote.

The measure will probably fail to pass in the Senate, FBR Capital Markets analysts led by Paul Miller wrote in a note to investors today.

“Our sources on Capitol Hill indicate that the TARP tax has a very low probability of passage in the Senate, as nearly all Republicans and a sufficient number of Democrats would likely vote against the measure,” the analysts, who are based in Arlington, Virginia, said. “The proposal has a higher probability of passage in the more populist-driven House.”