Banks should pay for their own bailouts

Posted on

Banks should pay for their own bailouts - Telegraph.

The need for governments to rush to the help of banks every few decades seems to be an unfortunate fact of life. If the banking system is on the brink, it can't be allowed to collapse. But the burden of paying for the bailout shouldn't fall on the public purse.

So, Bank of England Deputy Governnor Paul Tucker says the banks should pay in future by payment of a levy.

I agree. I've already swuggested the means to do so: it's an extra 10% tax charge.

Now why is no one proposing it?

It's time politicians stopped being frightened of banks.

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