«As Congress pushes through the ludicrous bill which taxes bonuses at 90% at any firm taking TARP money, I can’t help but wonder if congress is thinking. Are lawmakers getting some grim satisfaction out of finally sticking it to those overpaid New York fat cats? Or do they know what an epically bad idea this is, but must represent their constituents’ populist rage?(...) The idea is much closer to dangerous than dumb.(...)Bankers in the City are calling the bill the “The Foreign Bank Relief Act”, because it may effectively kill the only businesses generating profits for American banks—client rather than balance sheet driven activity.» (Link)
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«As Congress pushes through the ludicrous bill which taxes bonuses at 90% at any firm taking TARP money, I can’t help but wonder if congress is thinking. Are lawmakers getting some grim satisfaction out of finally sticking it to those overpaid New York fat cats? Or do they know what an epically bad idea this is, but must represent their constituents’ populist rage?(...) The idea is much closer to dangerous than dumb.(...)Bankers in the City are calling the bill the “The Foreign Bank Relief Act”, because it may effectively kill the only businesses generating profits for American banks—client rather than balance sheet driven activity.» (Link)