Frankly, it's getting harder for banks to argue against the idea of some sort of resolution fund for big banks. To argue that big banks should exist because you can trust the executives to make prudent decisions just isn't going to work. So we're seeing more big banks around the globe coming out in favor of some mechanism to wind down failing big banks without tapping the public tills.

The Obama Administration's idea to levy a $90 billion tax seems to have galvanized some proponents. According to the Financial Times, the CEO of Deutsche Bank and the president of Barclays now seem to favor some sort of global resolution fund. Something that might begin in Europe, if it were ever to take root. One tricky issue is whether U.S. banks would eventually pay into two funds, one domestic and one global. We'll see if this issue develops real legs. 

For more:
- here's the FT article

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