Bank of New York might lose business Archives

daniel May 25, 2017 $85.01 billion in cash and short term investments, Another potential threat to Bank of New York, Bank of New York, Bank of New York might lose business, BK, BNY Mellon, BNY Mellon has an incredible amount of cash, Goldman Sachs (NYSE: GS), Is Bank of New York Mellon Really a Good Investment?, The Problem with Oil, The Value in Finance Bank of New York Mellon, U.S. companies were holding around $2.6 trillion in overseas accounts, Why Bank of New York Mellon might be Incredibly Undervalued, Would Trump’s Tax Holiday Help Bank of New York Mellon?

The Value in Finance Bank of New York Mellon

Trump has proposed a tax holiday to let companies bring the money back, something that might be politically impossible to sell to Congress. Although a Republican Congress did give President George W. Bush a tax holiday in 2004 when two thirds of the earnings were repatriated, Wells noted.

If such a holiday were to occur; and it is a big if, a lot of the money would come through BNY Mellon. CNBC estimated that companies would bring $1.7 trillion back to the U.S. That might generate fees for Bank of New York which moves funds for big companies.

Such a holiday might be unlikely now because few Congressmen or Senators would want to be seen giving big corporations a huge tax break in today’s political climate. Hostility to Wall Street and big business is running high and destroying the careers of politicians seen as puppets of moneyed interest such as Hillary Clinton.