ST Alpha - "I actually think the bank tax is pretty stupid. I'm for the regulatory restrictions, but the bank tax is silly." (Reading a Post)

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I actually think the bank tax is pretty stupid. I'm for the regulatory restrictions, but the bank tax is silly.

Posted by pmb (aka pmb) Jan 22 '10, 09:10

Bank's that have paid back the tarp money will still pay the tax. They paid it back with interest. They honored their deal. To go back now and ask for more is unfair. And any tax is just going to be passed along to consumers one way or another so it's just the taxpayers essentially paying again. We've actually done quite well on the tarp program so far as a country. I think all the outrage at the banks is misplaced at this point. Let's address the regulatory concerns, but I don't get the torches and pitchforks approach.

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[deleted] 1
- The fed had the most profitable year in its history. $45 Billion in profits. - pmb Jan 22, 09:21
I look on it as a sort of insurance policy that will fund future bailouts - Roger More Jan 22, 09:14

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I actually think the bank tax is pretty stupid. I'm for the regulatory restrictions, but the bank tax is silly.

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