Nov 7th, 2009 - Bloomberg
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Nov. 7 (Bloomberg) -- U.K. Prime Minister Gordon Brown saidthe Group of 20 nations should consider measures such as taxingfinancial transactions to penalize excessive risk taking andlimit the burden on taxpayers of bank failures.
“It cannot be acceptable that the benefits of success inthis sector are reaped by the few but the costs of its failureare borne by all of us,” Brown told G-20 finance ministers andcentral bankers at a meeting today in St. Andrews, Scotland.Tighter capital rules and pooled bank resolution funds couldalso be considered, he said.
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