British banks are getting an effective taxpayer subsidy of £46bn a year because they are extraordinarily large and have a unique status in the economy, according to new research from nef. The market believes that the government will always step in and rescue banks when they are in crisis. After the crash of 2008, some …
Significant Development on the Smart FTT
Guest Blog by Angus Cunningham, Principal, Authentix Coaches, www.authentixcoaches.com, March 2011 The New York Times carried an article yesterday by Gretchen Morgenson, who often writes on issues of financial reform, in which the US Treasury appears, so far, to be supporting the case of big banks for unrestricted freedom in …