
 |
|
February 10, 2012
Lisa M. Krieger: Man with defibrillator demands access to his own heart's information
David G. Savage: Why activists may not be in a hurry to have High Court rule on alternative marriage
February 9, 2012
Laura McMullen: 10 Least Expensive Public Schools for Out-of-State Students
Kimberly Palmer: How to actually enjoy -- relaxing, financially -- your vacation
February 8, 2012
Warren Richey: Why momentous Prop. 8 ruling might not satisfy gay-rights groups
Menachem Wecker: Though Controversial, LL.M.'s Can Lead to Specialized Legal Jobs
The Kosher Gourmet byDana Velden: Going to the bother of making soup? You know it better be good. This CREAM OF TOMATO SOUP certainly is! And it's a cinch to make, too (Includes techinques and serving secrets)
February 7, 2012
Frank J. Gaffney, Jr.: Caught off-guard? President's Super Bowl interview with Matt Lauer gives those who need a reason not to vote for him, a darn good one
Suzanne Bohan: Leaping lizards! Tiny reptiles advancing robot design
February 6, 2012
Jonathan Tobin: Iran Threatens Israel With Destruction, But the New York Times Doesn't Hear It
Jeffrey Fleishman: In newly democratic Egypt, tens of democracy activists jailed, to stand trial; their groups are 'threatening the stability of the homeland'
Julie Deardorff : Researchers say antioxidants may not be that effective and could do more harm than good
Mark Clayton: How did Anonymous hackers eavesdrop on FBI and Scotland Yard?
February 3, 2012
Edmund Sanders : Israeli official says Iran is creating missile that could reach East Coast of US
Victoria Kim: Immigrant-smuggling ring used black drivers to avoid racial profiling
February 2, 2012
Jim Carney: Wrong number call may have saved her life
Reza Kahlili : Ex-CIA spy in Iran's Revolutionary Guard: What Obama doesn't grasp about striking deals with Tehran
Tina Susman: For woodchuck rescuer, every day is Groundhog Day
February 1, 2012
Brian Bennett: US officials see increasing threat of domestic attack from Iran
Emily Brandon: How to Take Advantage of New 401(k) Fee Disclosures
January 31, 2012
January 30, 2012
Paul Richter and Ramin Mostaghim: Misreading Teheran's limits -- deadly and economically devastating as they may be -- is a risk administration, Europe seem willing to take
Suzanne Bohan: Warning: Nap-deprived tots missing more than sleep, study finds
Meg Handley: Banks Revamping Rewards Programs to Woo Customers
January 27, 2012
Caroline B. Glick: Obama: Of course I intend to prevent a nuclear holocaust . . . in a few months
Yochonon Donn: In liberal New York City, fervently-Orthodox Jews may soon be getting a district to call their own
Jeannine Stein: An inflated ego and thinking you're 'all that' doesn't just make others sick of you, it can make you ill
Katy Hopkins: New budget rules may affect how much money you get for college
January 26, 2012
Ed Koch: To the New York Times, calling for the murder of Jews by those capable of having their incitement taken seriously isn't news
Jeannine Stein: Mental illness struck one in five U.S. adults in 2010: Report
January 25, 2012
Richard Simon: House passes two bills endorsing the use of religious symbols at military memorials
Fred Weir: Putin: Multiethnic Russia cannot survive as a US-style 'melting pot'; must find its own way
Susan Johnston: 5 Sneaky Coupon Strategies Consumers Should Watch Out For
January 24, 2012
Carol Clark: The price of your soul: How your brain decides whether to 'sell out'
Caroline B. Glick: America lost most in 'Arab Spring'. Sadly, many voters still don't grasp the extent
Warren Richey: Drug criminal scores win in GPS ruling from conservative-leaning high court
Erika Bolstad: Black conservatives gather to talk about gaining strength
January 23, 2012
Melissa Dribben: Jewish voters to play a key role in Florida's Republican primary
Jordan Rau: In quest to grow, Catholic hospital system will announce this morning its break from church
Ali Safi: U.S. envoy gives Taliban terms for peace talks
January 19, 2012
January 18, 2012
January 17, 2012
Frank J. Gaffney Jr.: No-kidding red lines: U.S. response to an Iranian nuke may be bluster, but Israel's won't be
David G. Savage: They sued their principals after slandering them online --- now the cases are headed to the Supreme Court
David Francis: Where to Invest in 2012: With stocks expected to rebound, opportunity abounds for investors
January 13, 2012
Ben Lynfield: Israeli lawmakers move to annex Jewish Judea, one museum at a time
Alexia Elejalde-Ruiz: Thriving through touch: Gentle massage helps older people with low mobility improve in mind and body
January 12, 2012
Warren Richey: Landmark Supreme Court ruling a 'resounding win' for religious groups
Warren Richey: Supreme Court says no to new rule on eyewitness testimony
John Fauber : Statins found to raise diabetes risk in postmenopausal women
Katy Hopkins : Consider This Before You Pay for an Online Degree
The Kosher Gourmet by Joseph Erdos: This mushroom and barley soup has an intense -- almost nutty -- flavor that mixes robust with Middle East. It has creaminess without cream
January 11, 2012
Shari Roan: Millions of atrial fibrillation sufferers at risk for devastating, but preventable, stroke
Tom Hussain: Pakistan -- recipient of more than $21 billion in civilian and military aid -- speeds pursuit of Iranian pipeline, defying US
David G. Savage: High court signals it won't be loosening TV's 'indecency' rules
Stephen Ceasar: Oklahoma's Islamic law amendment can't go into effect, court rules
January 10, 2012
Reza Kahlili: From an ex-CIA spy: US must exploit new split in Iran's Revolutionary Guard
Karen Kaplan: Study: Nicotine replacement products ineffective when used in real-life situations
January 9, 2012
Michael Doyle: Put through legal hell over dream home, couple fought back hard --- all the way to Supreme Court
|
| |
Jewish World Review
Jan. 19, 2010
/ 4 Shevat 5770
How to slake the public's thirst for revenge against WallStreet
By
Froma Harrop
| 
|
|
http://www.JewishWorldReview.com |
Tax the bankers' profits, tax their bonuses, tax their golf scores. I
mean it. Take their windfall, and give it to the taxpayers who bailed
them out. Britain and France plan a 50 percent tax on banker bonuses
coordinated lest their financial bigwigs think of crossing the channel
for a better deal. President Obama's proposal to tax the big banks'
extraordinary profits fits the theme.
This should help slake the public's thirst for revenge against Wall
Street. Europeans don't seem to be complaining about these special
taxes, and a little economic populism couldn't hurt Obama's approval
ratings, such as they are.
But as a move toward serious financial regulation, this is just a shot
over the industry's bow. Washington must pass new rules to curb the sort
of financial recklessness that took America to the abyss of economic
ruin. Such crusades aren't so crowd pleasing, mainly because the crowd
doesn't understand them.
That's why the moment's political passions are so focused on the bailout
that created these record bank profits. With the panic over, it's easy
to believe or pretend to believe that the bailout wasn't needed. But
remember the day when tough talkers in the House defeated the Bush
administration's bailout plan? The Dow Jones Industrial Average promptly
plunged nearly 800 points. Congress quickly changed its mind and passed
the measure.
Democrats don't need Republicans to promote counterproductive statements
that draw warm applause from the apoplectic masses. They have Sen. Evan
Bayh of Indiana, who recently said, "I don't think the American people
last year voted for higher taxes, higher deficits and a more intrusive
government."
Actually, the people did vote for a more intrusive government. They
wanted a government that would intrude on financial industry practices
that pushed them into a deep recession. The people wanted a government
that would intrude between them and the health insurer trying to drop
their family after a member was diagnosed with cancer.
No, there cannot be lower deficits without higher taxes. (How would you
lower deficits, Senator?) In any case, by taxing bank profits, Obama
would have banks paying back "every last dime" of their bailout. Perhaps
the voters knew what they were doing.
And don't anyone send me quotes about Ronald Reagan and the magic of tax
cuts. Taxes were cut in Reagan's first year, then rose in every other
year of his administration. Meanwhile, the national debt doubled.
A far more perceptive (though sickening) quote came from another
Democratic senator last April. Illinois' Dick Durbin said on a radio
show that despite all the economic pain America has endured, the
financial industry "still owns the place" the place being Congress.
Clearly, there will be no serious financial reform unless Congress
unchains itself from the Wall Street money masters. Real reform means
ending the "too big to fail" doctrine that in effect places a taxpayer
guarantee under the big banks' speculation. It means regulating the
markets for derivatives. It means creating a consumer protection agency
that puts the brakes on the riskiest loans.
Sure, a tax on bank profits is justified. The big banks' fabulous year
came out of the public's hide. We speak of the government guarantees of
bank-issued debt; the AIG bailout (and by extension, AIG's creditors,
the banks); (and) near zero interest rates, courtesy of the Federal
Reserve. The taxpayers earned their share of the pot.
But the spotlight of outrage should linger only briefly on what the
bankers did, then fix itself on what Washington let them do. America
must protect its economic well-being against future marauding on Wall
Street. The future is the only thing we can influence.
Every weekday JewishWorldReview.com publishes what many in in the media and Washington consider "must-reading". Sign up for the daily JWR update. It's free. Just click here.
Froma Harrop is a columnist for The Providence Journal. Comment by clicking here.
ARCHIVES
© 2010 Creators Syndicate
|

Arnold Ahlert
Mitch Albom
Jay Ambrose
Michael Barone
Barrywood
Tony Blankley
Lori Borgman
Stratfor Briefing
Mona Charen
Linda Chavez
Richard Z. Chesnoff
Ann Coulter
Greg Crosby
Alan Douglas
Larry Elder
Suzanne Fields
Frank J. Gaffney
Bernie Goldberg
Jonah Goldberg
Julia Gorin
Jonathan Gurwitz
Paul Greenberg
Argus Hamilton
Victor Davis Hanson
Betsy Hart
Ron Hart
Nat Hentoff
Marybeth Hicks
David Horowitz
Jeff Jacoby
Renee James
Paul Johnson
Jack Kelly
Ed Koch
Ch. Krauthammer
Michael Ledeen
John Leo
David Limbaugh
Kathryn Lopez
Rich Lowry
Michelle Malkin
Jackie Mason
Ann McFeatters
Dale McFeatters
Dana Milbank
Jeanne Moos
Dick Morris
Jim Mullen
Deroy Murdock
Judge A. Napolitano
Bill O'Reilly
Kathleen Parker
Star Parker
Dennis Prager
Wesley Pruden
Tom Purcell
Sharon Randall
Robert Robb
Cokie & Steve Roberts
Heather Robinson
Pat Sajak
Debra J. Saunders
Martin Schram
Culture Shlock
David Shribman
Roger Simon
Michael Smerconish
Thomas Sowell
Ben Stein
Mark Steyn
John Stossel
Cal Thomas
Dan Thomasson
Bob Tyrrell
Ben Wattenberg
Diana West
Dave Weinbaum
George Will
Walter Williams
Byron York
ZeitGeist
Mort Zuckerman

Robert Arial
Chuck Asay
Baloo
Chip Bok
Dry Bones
Lisa Benson
John Branch
John Cole
J. D. Crowe
John Deering
Brian Duffy
Everything's Relative
Mallard Fillmore
Glenn Foden
Jake Fuller
Bob Gorrel
Joe Heller
David Hitch
Jerry Holbert
Lee Judge
Steve Kelley
Jeff Koterba
Dick Locher
Jimmy Margulies
Rick McKee
Michael Ramirez
Kevin Siers
Jeff Stahler
Ed Stein
Danna Summers
John Trever
Gary Varvel
Kirk Walters

Mr. Know-It-All
Dr. Peter Gott
GET A JOB! by Marty Nemko
Richard Lederer
Frugal Living
Tech Maven
On Nutrition
Bookmark These
Bruce Williams
| |