No winners from Barclays tax crackdown

February 29, 2012

The UK government has closed two loopholes used by the lender to avoid tax. That’s a setback for CEO Bob Diamond’s efforts to present the bank as a good corporate citizen. But by introducing retrospective legislation, ministers have made the UK tax system even more unpredictable.

U.S. bank tax surprisingly isn’t dead on arrival

January 14, 2010

The U.S. Congress, particularly the Senate, has been a graveyard for aggressive financial reform. And banks are hoping the new bank levy will suffer a similar fate. They shouldn't count on it.