Reuters leads in killing of proposed US bank tax
06.29.2010
Reuters scooped the competition on June 29 with news that the White House wanted to kill a proposal to tax banks and hedge funds, which became the sticking point in the proposed financial regulation bill. Sources told Reuters that the White House was pressuring lawmakers to dump their proposed tax in order to win enough support to pass the bill. The news surprised markets, and came amid analyst expectations that the legislation would easily win support. Dow Jones and Bloomberg trailed Reuters, while CNBC picked up our report. Hours after Reuters first reported the news, lawmakers negotiating the final bill killed the proposed bank tax.
