Monday, March 23, 2009

Reasons why bonus tax on TARP recipients is not a good idea

Via Rob Cox:
1) It's unconstitutional
2) It will affect innocent and guilty banks alike
3) It will remove capital from the banking system
4) It will undermine other Fed efforts
5) It increases the risks for private investors to work with the government
6) Foreign banks will be given a competitive advantage over domestic banks

Hmph; any questions?

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