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- Shell-shocked bankers turned the tables on the Obama administration's plans to heavily tax bonuses, WSJ says. "Several big firms called Treasury and White House officials to urge a more reasonable approach... The banks' message: If you want our help to get credit flowing again to consumers and businesses, stop the rush to penalize our bonuses."
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This news story has 4 comments:
The truth is that recovering the bonuses will not make one iota of difference in solving this crises except for the politicians going back to the back room and saying to themselves, "We pulled another one over on the people and now they hate the banks not us for doing nothing in the last 8 years."
Its only through give and take that we will achieve some measure of balance is solving the real problems. Forcing the government to back down will show what a made up crisis this was in the first place.
We already have laws on the books for banks and if the banks violated them then go after them in court, not by generating public opinion has they are.