At last a Republican policy I can get behind February 25, 2014 at 8:26 pm
Bloomberg tells us of a lovely policy idea that I really hope comes to pass:
The biggest U.S. banks and insurance companies would have to pay a quarterly 3.5 basis-point tax on assets exceeding $500 billion under a plan to be unveiled this week by Congress’s top Republican tax writer.
Done right (i.e. without a powerful incentive to move assets to the shadow banking system), this could be a big shove towards ending too big to fail.