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

Bernake just said the he agrees with Treasury's rejection of the transaction tax idea.
Also says trans tax would greatly reduce market liquidity.


I didn't hear the question that was asked to elicit those statements. He's testifying today. A search for a transcript or video later today when he's finished would be useful.
 
Wednesday, April 14, 2010 9:10:21 AM
(US) Fed's Bernanke: A financial transaction tax is not the way to raise revenue; agrees with Treasury Dept advisement against the idea
- the tax would lead to a reduction in liquidity; leverage taxes would also cause issues in the repo market
 
what is good also is that Bernanke is taking a different view to his old buddy Krugman...

so we now have the Governors of the Fed, ECB and BoE united and all opposed to a tranny tax....

Perfect
:)
 
http://news.yahoo.com/s/nm/20100414/pl_nm/us_financial_regulation_obama/print

the big banks will come through unscathed because as ron paul says obama believes in corporatism not in socialism . http://blogs.wsj.com/washwire/2010/04/10/ron-paul-barack-obama-is-not-a-socialist/tab/print to show they are doing something they will pass a financial transaction tax. they will put through this tax with a small exemption which will allow them to say they are not hurting the investor but only the speculators. the revenue forecast will be some ridiculously large number and the deal will be done.
 
You must log in or register to reply here.
Back
Top