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Global Bank Tax

UK Prime Minister Gordon Brown says that agreement on a global bank tax is near.  Read the ft.com article by George Parker and Lionel Barber.

I would ask one question:  Will any tax correct the too big to fail (TBTF) problem?  The cost of the financial crisis has been much larger than the accumulated profits of all the banks.  Obviously, any tax on profits will fall far short of the financial risk imposed by TBTF.  My opinion is that we need to fix the problem, not to try to gain public share of the spoils from continuing to tolerate the situation.

Disclosure: No stocks mentioned.