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  • Why O's 'bank tax' won't fix Wall St. (The rookie Hussein can't be this stupid - can he?)

    01/17/2010 2:55:38 PM PST · by Libloather · 14 replies · 728+ views
    NY Post ^ | 1/14/10 | Nicole Gelinas
    Why O's 'bank tax' won't fix Wall St.Last Updated: 6:46 AM, January 14, 2010 Today, President Obama will announce plans to levy a big fee on "too big to fail" financial firms. The fees, as much as $120 billion, seem designed to attract a crucial support base: New York's delegation in Congress. But a tax on finance won't fix Wall Street -- and New York should reject it. The move is supposedly a response to furor over Wall Street bonuses. "Given the mood of the country, it is essential that we do it," says Rep. Barney Frank (D-Mass.), who chairs...