Tax on banks – saving or worsening the crisis ?

England will solve budget deficits with a tx on banks. As in the western world all countries struggle with huge deficits, will a tax on banks create a second crisis, or save the economy.

Looking at the chart of the FInancial Sector we see a very strong resistance at the 200d MA.

I would say that a bank tax is not in favor for financial stocks.

Bought a few FAZ to get my feet wet.

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