Word: bankses
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Today, there are bigger obstacles to its implementation. First, there are the tax's tricky practicalities: Which financial transactions and institutions do you target? And who pays, administers and regulates it? But possibly more importantly, every major financial center would need to be on board for the levy to be...
There's little disagreement that by picking up the banks' half-a-trillion-dollar repair bill, taxpayers got a rotten deal in the financial meltdown. How to make sure they're not forced to pay a second time is unclear. A levy on financial-market transactions, stretched beyond foreign-currency...
For those looking to such a tax to protect against future calamities, there's even more disappointment. Squeezing the volume of financial trading wouldn't have done much to tackle the eye-watering debts and shoddy risk assessment at the oversize banks that got us into the current pickle. That...
All of which leaves the tax as a basic means of raising funds. And in that respect, there may be simpler methods. Because of the lukewarm response from other countries to Brown's suggestion, the British government was quick to reduce the levy to one of several ideas the Prime...
If loan modifications aren't the long-term success the Administration is banking on, people will wind up losing their homes to foreclosure anyway, and the number of repossessed properties owned by banks will again swell. According to foreclosure tracker RealtyTrac, the number of foreclosure notices nationwide has been ticking...