The New Yorker’s John Cassidy wonders aloud today if President Obama will copy the move announced by the U.K.’s chancellor Alistair Darling today to tax financiers bonuses’ at a 50% rate. Cassidy thinks Obama’s advisors are pressing him to do just that. And writing that U.S. Treasury Secretary Tim Geithner and economic advisor Larry Summers have to clean up their rep as “shills for Wall Street,” Cassidy suggests both Summers and Geithner should support such a move if they want to repair their respective images.
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