1/4% Tax on all stock trades pushed in NY Times today

Quote from MrPowerBallad:

It's bad that Strauss-Kahn is softening his language on this -- I guess that's all we can do is wait for his report next April or so to know his true intentions.

At this point Gaurdian is publishing one or two articles a day in favor of the tax -- fine, whatever, but where the hell are they pulling this stuff from:

" . . . but Downing Street said the White House was privately interested in the idea . . "

If true, that's obviously very bad.
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If that were true, and its what they have said for months( downing street that is) Geithner, while representing the Obama administration , would not have said this many times at 2 different g20 meetings.
 
We also have to keep in mind regardless of what the report is the IMF comes up with , it has no rule of law. We actually control the IMF with our voting rights to veto things. I beleive we have about 86-87% of the votes and you need an 85% majority. We also have a stong track record of ignoring proposals from the imf
 
Quote from rsikit:

We also have to keep in mind regardless of what the report is the IMF comes up with , it has no rule of law. We actually control the IMF with our voting rights to veto things. I beleive we have about 86-87% of the votes and you need an 85% majority. We also have a stong track record of ignoring proposals from the imf
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You bring up a good point about the IMF voting, but maybe I'm misreading your "86 - 87%" figure -- according to wikipedia, the US has about 17% of the total vote -- luckily still enough to prevent the 85% supermajority. Also, Japan, Canada, and the Swiss have a combined vote about ~11%.

http://en.wikipedia.org/wiki/International_Monetary_Fund
 
Sorry you are right I did it backward , missed by a few! :) There needs to be 85% majority and we always have the majority! Last g20 we want to give emerging markets more of a say but we wanted other countries to give up their vostes like the European Bloc. Not us. Thanks for the correction!
 
Thats why other countries get pissed becuase we do rule the IMF, we control the votes, we do not give up majority rule on that one. So they basically do what we want, which is a good thing. They will try to say they are independent but how can u be when one country controls what you do.
 
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