19% capital requirements are the ticket

Reader comment on: UBS in the USA

Submitted by Lyle (United States), Jun 17, 2011 09:26

The swiss because their banks are 4 or 5 times the size of the real economy are proposing a 19% capital requirement which the banks say they can't live with (a 5x leverage ratio, that means they can't make as much money the Horror the Horror!!) I say send the banks to the Caymans where they can't be bailed out since the banks would be 100s of times the economy. Of course if it were me I would bring back glass stiegel world wide, and also put in the stamp tax (transfer tax) on all stock and bond trades world wide. After all we did have one in the US even after 1776 and it did not kill things, and in fact the US used to have wealth taxes as well (intangables were assesed property taxes for a while) or later the intangibles taxes.


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