(May-day Maiden, Evergreen Review, 1967)
HuffPo commentary on Obama's Bank-Tax
“”"That bank-tax reported yesterday looks like it will be
broader and tougher than initially reported.
The Huffington Post quotes a senior administration official saying that Obama will institute a tax not only to recoup taxpayer losses on the bailouts but also to penalize too-big-to-fail institutions and get back some of the taxpayer subsidy inherent in guaranteeing these firms’ survival.
That tax, if it’s steep enough, will incentivize banks to get smaller. It will be interesting to see how it’s structured—at what size the levy kicks in.
And this is also important and new: It appears the administration, even if it’s not going to call for the reinstatement of a Glass-Steagall split between trading and banking, is going to slap penalties on casino-like activities”
The neo-liberals (and of course the neo-Nixonian GOP-nutbags) don't seem too enthralled about this move, but it appears to be a fairly sound regulatory policy--though probably a bad sign for scabs and shysters, whether Stevie Jobs, or Stevie Forbes, or McJobs-Forbes-wannabes, like Byronia and the mormon-subluxation biz.