Monday, September 3, 2012

15 percent bank capital - 15 years tax exoneration - $500bn

The Western world needs, urgently, traditional bank capital, not that silly modern stuff. 

In this respect, whichever bank agreed to hold 15 percent in capital, against any asset, no matter how safe or risky these might be perceived, I would grant it 15 years exoneration from corporate and dividend taxes. 

This is just an idea, this is just how I feel today mind you, on this Labor without jobs day of 2012.

There is a world of productive risk-taking waiting out there to get our youngster their generation of good jobs… let’s give them a chance.

I would love to see $500bn in this type of fresh bank capital...which could be leveraged into over $3 trillion in loans which do not discriminate more based on perceived risks than what they should ordinary do in a free market.

That could mean a fresh start for our economies and a stop to that war current bank-nannies are waging against the "risky".