Why Not Tax Wall Street?

thenation.com — Washington is experiencing a rare and disorienting moment. Big ideas for financial reform that have languished for years are suddenly gaining momentum. Instead of taxing folks to clean up after reckless Wall Street bankers, why not tax Wall Street? Instead of tolerating behemoths regarded as "too big to fail," why not break them up before they do more damage to the country? The fact that these and other unsanctioned propositions are in play and even proposed by respectable figures indicates how deeply the established order has been rattled by the financial crisis. It also demonstrates that members of Congress who bailed out the bankers with public money are quite terrified of voter retribution in the next election.

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