James Pethokoukis

More on the Obama bank tax

January 13, 2010

My pal John Carney takes a crack at it:

1) Let’s start with the idea that we’re going to tax banks based on “riskiness.” How on earth do we expect the government to assess this? The government has an absolutely awful track record when it comes to assessing risk. Before the crisis, regulators put in place mandatory capital requirements that they believed were “risk weighted.” The result was the massive over-indulgence in risky mortgage backed securities that almost destroyed the financial system. A risk tax would just result in new pressure for banks to adopt the regulatory view of risk. No thanks.

Here comes Sarah Palin and the anti-Wall Street GOP

November 20, 2009

Don’t interpret passage of the watered-down Kanjorski amendment as the peak of the “break up the banks” movement. It may be about to get some new allies on the right, folks tired of Big Government, Big Money and crony capitalism.

‘A whole mess of crazy’ coming from Capitol Hill

November 20, 2009

That is how one Congress watcher from the financial industry describes the current state of affairs, from the Fed audit bill to calls for a transaction tax. I think this William Greider piece gets at the heart of it: