Buffett's suggestion on banks is essentially the old partnership model.

Reader comment on: Warren Buffett on Taxes and TARP

Submitted by Lyle (United States), Jan 20, 2010 20:46

Recall that until recently most of wall street was in the form of partnerships where the partners were liable up to their last dollar for the losses of the firm. I say let's go a step further, you can be a corp but then no proprietary trading, or a trading house when you are a full partnership, for those managing or working for the origanization. Limited investing only or retired partners could also exist. But no corporate shield as the threat of losing everything tends to concentrate the mind.

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