The right Roed to curb bankers

October 6, 2009

A rather good idea, from a letter in the FT from one Ole K Roed of Luxembourg. His name may look suspiciously like an anagram, but his suggestion is sound. Banks are to be obliged to pay premiums for insurance against their failure, but the shareholders (and the taxpayers) have surely suffered enough.

Rather than hit them again, Roed proposes a levy on cash bonuses, if necessary at a progressive rate to ensure the fattest cats pay enough to hurt. Please don’t call it another tax; instead, describe it as a fee, “a term with which bankers are of course thoroughly familiar.” Ole!

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