-- Robert R. Bench, a former deputy Comptroller of the Currency, is a senior fellow at the Boston University School of Law Morin Center for Banking and Financial Law. The views expressed are his own. --
The Great Debate UK
from The Great Debate:
- Bernd Debusmann is a Reuters columnist. The opinions expressed are his own -
Woe betide the organization or individual who lands on America's terrorist list. The consequences are dire and it's easier to get on the list than off it even if you turn to peaceful politics. Just ask Nelson Mandela.
A levy on bank liabilities would get the industry squealing - especially if it approached $120 billion. But the Obama administration isn’t crazy to float the idea. A well-crafted tax could help recoup bailout costs while also giving banks an incentive to behave more sensibly. It doesn't have to apply just to the United States, either.