TBTF banks are not happy with a proposed financial tax endorsed by GOP lawmaker David Camp. $GS, who was in discussions to hold a fundraiser for the National Republican Congressional Committee, recently opted not to move forward because of concerns about Mr. Camp's bank-tax proposal. Could this be why financials have not been participating lately? WSJ Considering the amount of support given by financial institutions over the years, one can only imagine the pressure being applied by lobbyists.
In a nutshell, Camp's proposed the tax on large financial institutions in part because it would offset the lower borrowing costs they receive from a perceived government backstop. Naysayers immediately fired back stating that such a tax would hurt consumers by making credit less available and more costly, stifle business growth, and cost jobs. Let the fear mongering begin.- At a surprise appearance via satellite on a recent TED Talk, Edward Snowden said just wait, the larger revelation is yet to come. Seriously?! Mashable
- Your next new hire could come from a mobile app. The shift in recruiting technology Mashable
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