Well what defazio did was attack Mr. Obama's ability to manage his administration. If I were defazio I would lick my wounds and hide for the next 3 years.
1/4% Tax on all stock trades pushed in NY Times today
- Thread starter seasideheights
- Start date
Well what defazio did was attack Mr. Obama's ability to manage his administration. If I were defazio I would lick my wounds and hide for the next 3 years.
Is it time to consider tobin tax, wonders RBI governor
In 2006, when the first wave of capital infows hit Indian shores, then Reserve Bank of India (RBI) Governor YV Reddy wondered aloud if a tobin tax should be considered. He was shouted down by stock markets which were enjoying the liquidity driven rally. Three years later, Brazil has already imposed a tobin tax on currency transactions. But why is the G20 debating a tobin tax? What is this tax? CNBC-TV18ââ¬â¢s Gopika Gopakumar gives the lowdown.
In the aftermath of the financial crisis, the world has revisited many of its great economists. In the last few weeks, it has been the turn of James Tobin, a Nobel laureate and proponent of what is now known as the tobin tax. That is a financial transaction is which is meant to slowdown capital flows. Brazil has already followed Tobin's theory and imposed a 2% tax this year on currency transactions.
http://www.moneycontrol.com/news/ma...er-tobin-tax-wonders-rbi-governor_425435.html
<i>I still think we need to be vigilant on the domestic front, and not naive on the international front.</i>
In 2006, when the first wave of capital infows hit Indian shores, then Reserve Bank of India (RBI) Governor YV Reddy wondered aloud if a tobin tax should be considered. He was shouted down by stock markets which were enjoying the liquidity driven rally. Three years later, Brazil has already imposed a tobin tax on currency transactions. But why is the G20 debating a tobin tax? What is this tax? CNBC-TV18ââ¬â¢s Gopika Gopakumar gives the lowdown.
In the aftermath of the financial crisis, the world has revisited many of its great economists. In the last few weeks, it has been the turn of James Tobin, a Nobel laureate and proponent of what is now known as the tobin tax. That is a financial transaction is which is meant to slowdown capital flows. Brazil has already followed Tobin's theory and imposed a 2% tax this year on currency transactions.
http://www.moneycontrol.com/news/ma...er-tobin-tax-wonders-rbi-governor_425435.html
<i>I still think we need to be vigilant on the domestic front, and not naive on the international front.</i>
Dow Jones story on Pelosi
Some House Democrats floated the idea of the tax as a way to raise revenue to pay for the cost of another economic stimulus bill. One proposal circulated this week could raise around $150 billion a year.
Rep. John Larson (D., Conn.), a member of the House leadership team, has been a strong backer of the tax. He said the Treasury could be allowed discretion over when it would be implemented, giving the administration time to negotiate an agreement with other countries.
But Treasury Secretary Timothy Geithner told lawmakers Thursday the administration opposed the idea.
"I have not seen a version of that kind of tax that I think would...work, be effective, and would be appropriate for our country," Geithner told a congressional hearing.
House Republican leaders agreed the idea was flawed and should be jettisoned.
"Any time we're talking about taxing capital formation threatens the very notion that we're going to return to some normalcy in terms of small business being able to access capital," Rep. Eric Cantor (R., Va.), the minority whip, said.
http://www.easybourse.com/bourse/actualite/2nd-updatepelosius-couldn-t-implement-763810
Some House Democrats floated the idea of the tax as a way to raise revenue to pay for the cost of another economic stimulus bill. One proposal circulated this week could raise around $150 billion a year.
Rep. John Larson (D., Conn.), a member of the House leadership team, has been a strong backer of the tax. He said the Treasury could be allowed discretion over when it would be implemented, giving the administration time to negotiate an agreement with other countries.
But Treasury Secretary Timothy Geithner told lawmakers Thursday the administration opposed the idea.
"I have not seen a version of that kind of tax that I think would...work, be effective, and would be appropriate for our country," Geithner told a congressional hearing.
House Republican leaders agreed the idea was flawed and should be jettisoned.
"Any time we're talking about taxing capital formation threatens the very notion that we're going to return to some normalcy in terms of small business being able to access capital," Rep. Eric Cantor (R., Va.), the minority whip, said.
http://www.easybourse.com/bourse/actualite/2nd-updatepelosius-couldn-t-implement-763810
white house on geithner
The White House on Thursday voiced its backing for U.S. Treasury Secretary Timothy Geithner after he endured a grilling before Congress over the costly bailout of insurer AIG, and one lawmaker urged him to resign.
"Secretary Geithner has helped steer the American economy back from the brink, and is now leading the effort on financial reform," said White House spokeswoman Jennifer Psaki.
The White House on Thursday voiced its backing for U.S. Treasury Secretary Timothy Geithner after he endured a grilling before Congress over the costly bailout of insurer AIG, and one lawmaker urged him to resign.
"Secretary Geithner has helped steer the American economy back from the brink, and is now leading the effort on financial reform," said White House spokeswoman Jennifer Psaki.
FT: Congress eyes bank tax to tackle unemployment
Tim Geithner, Treasury secretary, on Thursday poured cold water on the suggestions in recent weeks by leaders including Gordon Brown, UK prime minister, that a ââ¬ÅTobin taxââ¬Â on banksââ¬â¢ transactions could be merited.
ââ¬ÅI have not seen a version of that kind of tax that I think would work, be effective, and would be appropriate for our country,ââ¬Â Mr Geithner told a congressional hearing.
Yet in Congress the idea has been gaining support among Democrats looking for a way to finance more public spending on stimulative legislation, while avoiding taxes that hit the general public.
The Tobin tax, named after the late economist James Tobin, would levy a fee on every transaction in the foreign exchange market. Some economists have argued such a tax would prove difficult to implement as it would require international agreement.
Nancy Pelosi, speaker of the House of Representatives, said yesterday that such a transaction tax was ââ¬Åon the tableââ¬Â. ââ¬ÅIt has not been developed to a high priority, but it has substantial currency in our caucus,ââ¬Â she said.
ââ¬ÅIt would have to be an international rule. We couldnââ¬â¢t do it alone,ââ¬Â added Ms Pelosi. Those last comments were seen as lengthening the odds on the introduction of a transaction tax, but Democrats are still exploring other ideas for taxes on financial institutions, whether on transactions or profits.
http://www.ft.com/cms/s/0/fcf31004-d55e-11de-81ee-00144feabdc0.html
Tim Geithner, Treasury secretary, on Thursday poured cold water on the suggestions in recent weeks by leaders including Gordon Brown, UK prime minister, that a ââ¬ÅTobin taxââ¬Â on banksââ¬â¢ transactions could be merited.
ââ¬ÅI have not seen a version of that kind of tax that I think would work, be effective, and would be appropriate for our country,ââ¬Â Mr Geithner told a congressional hearing.
Yet in Congress the idea has been gaining support among Democrats looking for a way to finance more public spending on stimulative legislation, while avoiding taxes that hit the general public.
The Tobin tax, named after the late economist James Tobin, would levy a fee on every transaction in the foreign exchange market. Some economists have argued such a tax would prove difficult to implement as it would require international agreement.
Nancy Pelosi, speaker of the House of Representatives, said yesterday that such a transaction tax was ââ¬Åon the tableââ¬Â. ââ¬ÅIt has not been developed to a high priority, but it has substantial currency in our caucus,ââ¬Â she said.
ââ¬ÅIt would have to be an international rule. We couldnââ¬â¢t do it alone,ââ¬Â added Ms Pelosi. Those last comments were seen as lengthening the odds on the introduction of a transaction tax, but Democrats are still exploring other ideas for taxes on financial institutions, whether on transactions or profits.
http://www.ft.com/cms/s/0/fcf31004-d55e-11de-81ee-00144feabdc0.html
Quote from rsikit:
http://blogs.reuters.com/james-peth...-the-calls-for-timothy-geithners-resignation/
More on Defazio calliong for Geithner resignation todayI guess Defazio is pissed Geithner did not support the tax along with say its not appropriate
The video:
http://www.realclearpolitics.com/video/2009/11/19/dem_calls_for_firing_of_geithner_summers.html
Also, according to some political insiders, he's probably going to be around after 2010 unless someone gets some dirt on him:
http://www.dcpoliticalreport.com/OR.htm
I have read up on him and he has been around for a while, and is never really challenged in office. He always wins by a landslide. So we can expect this prick to be around for awhile, and now he is just loving this tv time. No one knew who the hell he was or wanted to talk to this guy last year and now he is all over the place! That dam smirk on his face!
more ideas out of the UK
http://www.tribunemagazine.co.uk/20...lthy-could-wipe-out-most-of-deficit-says-tuc/
http://www.tribunemagazine.co.uk/20...lthy-could-wipe-out-most-of-deficit-says-tuc/
TUC is a union, not the government. Even as Brown brought up the idea of a financial transaction tax, he said he wouldn't act unilaterally. There is zero chance of a transaction tax on an international level. With that said, the tax is dead in the US.