Word: britain
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Dates: during 2010-2019
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When you're staring at a $250 billion budget deficit for the year, a fresh tax or two can come in handy. And if unpopular banks are the targets, better still. Few of Britain's voters will quibble with Alistair Darling's call Wednesday, March 24, for a global tax on banks to help recover the billions in public funds doled out during the crisis. "We intend to get all taxpayers' money back," the Chancellor of the Exchequer said during his budget speech to Parliament, his last before a general election expected in May. Charging banks to help do that...
...Having sanctioned some $1.3 trillion in state- and central-bank aid to protect its country's troubled lenders, Britain's government has been mulling a bank tax for months. Prime Minister Gordon Brown's proposal last fall for an international "Tobin tax" - a levy on financial-market transactions ranging from foreign-currency trades to derivatives - received a chilly reception abroad. U.S. Treasury Secretary Timothy Geithner pooh-poohed it as "not something we're prepared to support." But Darling's call for a global bank tax could yield something closer to the U.S. vision. Such a levy might involve taxing banks...
...catastrophe is hardly a foolish idea. Putting away at least some of the funds raised in the U.K. or U.S. makes sense. After all, almost all the big lenders who received cash from the U.S. Troubled Asset Relief Program in the current economic downturn have since paid it back. Britain's government, meanwhile, could yet turn a profit by selling stakes in its own partially nationalized lenders. (See 25 people to blame for the financial crisis...
Mothers who outsource the care of their sons to other women may be inadvertently raising adulterers. Or so claims Dr. Dennis Friedman in a book that has kicked up a bit of a ruckus in Britain. A Fellow of the Royal College of Psychiatrists, the doctor argues that men become womanizers because their mothers left them with nannies...
Working with a data set of 12,000 adults in Britain, Boyce and Moore assigned a rank to each participant based on income, and compared these positions to their answers on life-satisfaction surveys. The status rankings were determined using a statistical formula that incorporated factors such as geography, age, gender and educational status. So, a participant's income could be ranked along with those of neighbors, for instance, or with those of other similarly educated peers...