White paper calls proposed bank levy "flawed policy"

03/1/2010 | Risk.net (subscription required)

A white paper prepared by Nera Economic Consulting states that the economic costs of imposing a fee on major financial institutions would outweigh any potential benefits. The research is being distributed to lawmakers as they negotiate on legislation to overhaul the financial-regulatory system. The proposed "process is not only subject to gaming by firms, but is conceptually flawed," according to the white paper.

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