That guy is such a fucking douche bag!!! But, we shouldn't worry, as this tax will never happen. Even Obama's top economic advisor Larry Summers recently stated that he opposes this tax. Bottom line, it will probably never make it out of committee, but even if it did, this bill is deader than dog shit in the house/senate. Hell, even Pelosi is not in favor on this tax right now, although she indicated it is something to explore a few years down the road.
Would this tax be part of Obama's plan on heavy regulations coming to the financial markets? Unlikely. If anything, I can see him wanting to raise minimum margins for everything on day traders, in an effort to curb speculation to a degree. It won't work, but the odds of him supporting a financial transaction tax is very remote at best. So, no need to freak out about this.