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

Here is some more color:

A proposal from Peer Steinbrück, Germany's finance minister, for a global levy on financial transactions (often referred to as a Tobin tax), also received fairly short shrift. The G20 agreed only that the International Monetary Fund (IMF) should prepare a report on the “range of options” that countries are considering for making banks contribute to budget consolidation.

http://www.europeanvoice.com/article/2009/09/pittsburgh-consolidation,-but-no-revolution/65979.aspx

-Guru
 
Steinbruck will be gone now, his party lost the German elections so he is out :) Here is something Geitner said at a press conference at the g20 which is good for us not to cede to others for anything gloabal that takes away our soverignty like a tax :)


On the broader growth agenda, to be honest it's a harder thing to do, because we're a nation of -- we're a world of sovereign nations, and no country is going to cede sovereignty over fundamental choices about economic policy to consensus of other countries or to a international agency. But what we can do, and what we're trying to do now at a very early stage in this process of recovery, is to get people to agree to the basic imperative that we're not going to get growth strong enough, rapid enough, and sustainable in the future unless we're all reforming together; and that as we save more here so we can invest more here, we need to see countries around the world making changes to shift the pattern of growth to domestic demand. That's going to require a complex set of reforms that are going to have to take place over time.
 
Quote from rsikit:

Steinbruck will be gone now, his party lost the German elections so he is out :) Here is something Geitner said at a press conference at the g20 which is good for us not to cede to others for anything gloabal that takes away our soverignty like a tax :)


On the broader growth agenda, to be honest it's a harder thing to do, because we're a nation of -- we're a world of sovereign nations, and no country is going to cede sovereignty over fundamental choices about economic policy to consensus of other countries or to a international agency. But what we can do, and what we're trying to do now at a very early stage in this process of recovery, is to get people to agree to the basic imperative that we're not going to get growth strong enough, rapid enough, and sustainable in the future unless we're all reforming together; and that as we save more here so we can invest more here, we need to see countries around the world making changes to shift the pattern of growth to domestic demand. That's going to require a complex set of reforms that are going to have to take place over time.
More...

Thank you for providing very good insight. I too don't think this has any chance of passing but we must remain vigilent and alert...

-Guru
 
You must log in or register to reply here.
Back
Top