Wednesday 18 Jul 2018 | 07:23 | SYDNEY
Wednesday 18 Jul 2018 | 07:23 | SYDNEY

Finance: The times, they are a-changin'


Mark Thirlwell

22 April 2010 16:17

OK, I know I've posted before on how the IMF is changing, and how some of those changes reflect broader shifts in the world economy. But this warrants a special mention. A key part of the Wall Street-Treasury complex is now calling for taxes on bank balance sheets? The times really are a-changin'.

As The Economist points out, the Fund's proposals are likely to sound particularly attractive to cash-strapped Western governments. Note also how the IMF's proposed financial-stability contribution (FSC) tax maps on to the idea of taxing financial pollution

Also, put this together with the SEC case against Goldman and assorted other legal rumblings, and it's clear that the financial sector still has plenty of GFC-related fallout to come.