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Bank Regs Are Excess Profit Taxes

theovershoot.co

Bank Regs Are Excess Profit Taxes

They're not about preventing failures when things go bad. They're about limiting windfalls when times are good.

Matthew C. Klein
Jul 20, 2021
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Bank Regs Are Excess Profit Taxes

theovershoot.co

U.S. banks have had a great pandemic. Now they’re making more money than ever—and are poised to disburse that windfall to shareholders and employees.

Does that mean that the pre-pandemic regulatory regime was too tight? One might think that, if the banks can come out of Covid with these kinds of results, surely they can handle garden-variety downturns wi…

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