Predicting the Next Banking Crisis Is a Fool’s Game. Not Learning From the Last One: Equally Foolish
Jeff For Banks
JUNE 2, 2023
When the Taxpayer Relief Act of 1997 passed, the top capital gains tax rate was lowered, providing yet another incentive for equity speculators to pour money into the fledgling internet industry. Although community banks did not lend to sub-prime borrowers in any meaningful way, did we participate? We took a serious reputational hit.
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