Filling up depleting tax coffers

MUCH has been said about the excessive risk-taking of US financial institutions such as banks, brokerage houses and hedge funds that has contributed to the US credit crunch leading to the near collapse of the global financial system. All these firms were caught up in what has been called the “great game of risk transfer.”

Well, they seem not to have been any less active now despite the catastrophe, which saw many hallowed Wall Street names come to grief.