Skip to:

Text size [+][-]  Saturday November 21 2009GLOBAL EDITION

Free trial at breakingviews.com Click here
Considered view
20 Mar 2009 10:24

London calling



SIGN UP FOR A FREE TRIAL
signup

Simply complete all fields and click Submit.

 

I agree to the terms and conditions of use appropriate to my region.



Context News

The US House of Representatives passed legislation on Thursday that would impose a 90% surtax on bonuses paid to employees who earn more than $250,000 at institutions that have received at least $5bn of money from the Troubled Asset Relief Programme.

Eight banks would be affected: Bank of America, Citigroup, Goldman Sachs, JP Morgan Chase, Morgan Stanley, PNC Financial Services Group, Wells Fargo and US Bancorp.

The US Senate is set to take up a similar measure. That bill would impose a 70% surtax on bonuses, with half the levy paid by employees and the other half by the companies.

London v New York: 


jeffrey.goldfarb@breakingviews.com

More stories by:  Jeffrey Goldfarb

  NEXT FREE STORY  
   



Click here

Share