1/19/2010

Mohamed El-Erian, CEO of Pacific Investment Management, explains four reasons the bank fee proposed by the Obama administration likely will be approved. "Rather than argue about it, we should be focused on how the phenomenon will expand, in the U.S. and beyond," El-Erian writes. He goes on to explain that the real risk of the fee might be that it would become a substitute for regulatory initiatives, which are "urgently needed."

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