The Banksters are an internationally despised lot......

[marmar]

from the WorkingLife blog:



Germany Moves On Bank Tax, France Coming Soon

by Jonathan Tasini
Wednesday 31 of March, 2010


This just in, via The Wall Street Journal:

Germany on Wednesday moved toward a new bank levy to cover the cost of future bailouts, and France said it would pursue a parallel effort as leading world economies weigh strategies for curbing speculation and preventing future crises.

A proposal approved by the German cabinet would include an annual levy on banks' balance sheets, excluding customers' deposits that could generate up to €1.2 billion ($1.6 billion) annually. French Finance Minister Christine Lagarde, who participated in the German cabinet meeting that discussed the levy, said French officials would unveil their own plan "very soon."

"The German considerations are very useful," Ms. Lagarde said.

"We are supporting the introduction of bank resolution regimes in all EU member states," France and Germany said in a joint statement Wednesday. The French and German governments said they want to be able to intervene early if a bank is tottering and to wind down systemically important banks, including cross-border ones. The aim is to "impose market discipline and protect public funds," the statement said.

The reason?

Germany's move comes amid voter unhappiness at having to cover many of the costs of the financial crisis. "This has a psychological relief function for the government, which has provided billions of euros to the restructuring of banks," said Gerd Langguth, professor for political science at the University of Bonn. "Many voters are angry about the failure of bank executives for which they have to pay with taxpayers' money."(emphasis added)

http://www.workinglife.org/blogs/view_post.php?content_id=14784

[bvar22]

1. internationally despised, except in the campaign offices...

..of our elected officials. THERE, they are very welcome, and even allowed to write legislation.


NOW we have Your Children’s Money too !!!
And there is not a fucking thing you can do about it!
Now THIS is “Bi-Partisanship” !
Better get used to it!!
Hahahahahahahahaha!