Posts tagged as:

banking industry

Brits Will Greenlight Bank Tax In Spite of G-20

8 June 2010

Despite opposition from the G-20 to a global bank tax, the UK will move ahead with its own version of the tax. Chancellor George Osborne is widely expected to include the tax in his June 22 budget. The tax, which is similar to the one proposed in the US, would be levied on banks in [...]

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Support Growing for Bank Tax

23 April 2010

As the headlines continue to batter Wall Street this week (my favorite story du jour being this one from CNN: “SEC staffers watched porn as economy crashed”), politicians are taking the opportunity to take a second look at a tax aimed at punishing slapping on the wrist warning sending some kind of message to the [...]

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Is the White House Banking on a Financial Industry Tax?

12 January 2010

I can’t imagine that this looked all that good on paper… Apparently, in an effort to recover the TARP money from banks and other groups that the White House is anticipating won’t actually be paid back to taxpayers, they’re going to tax the banks, who will likely pass along the tax to taxpayers – to [...]

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Big Banks Move On… With a Little Help from Their Friends?

15 December 2009

Wells Fargo announced early this week that it will repay $25 billion received under the Troubled Asset Relief Program (TARP). The announcement comes on the heels of a similar announcement from the Bank of America. Citibank rushed to join the ranks of those banks committed to repaying TARP funds over the next few months. So, [...]

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Holes in Swiss Tax Case: Swiss Claim Tax Evasion Not a Crime

8 July 2009

As it turns out, the Swiss do have a little fight left in them after all. The Swiss government has now advised that it would seize financial records from UBS rather than allow them to be turned over to the US. The Swiss Department of Justice and Police filed a statement in federal court advising [...]

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Looking for Bank Bailout News?

9 February 2009

You won’t get it today. Newly confirmed Secretary of the Treasury Timothy Geithner was slated to announce details of the revised bank bailout plan on today but that’s not going to happen. The Treasury is moving the planned speech ahead to tomorrow in order to focus on the economic stimulus bill. The bill is being [...]

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PNC and Other Banks Benefit from Bad Debts

3 November 2008

Boy, am I glad that the government pumped billions of dollars into the banking industry! Since that time, borrowing has become significantly easier. Wait, that hasn’t happened? Well, at least the Dow regained its faith in the market. Wait, that didn’t happen either? What did happen? Oh yeah, banks made more money. Need proof? I [...]

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