Harper: Canada's banking system model for G20, no to global bank tax

K

Kassz007

http://news.ca.msn.com/top-stories/cbc-article.aspx?cp-documentid=24079680

A global bank tax is unnecessary and will be ineffective. How will this curb risk if banks know they will be bailed out if they fail? Do we really want ANOTHER tax? Clearly, the cost will be passed on to the average Joe. Canada does not have much support in the G7, but hopefully will find some allies in the G20. In any case, the world cannot implement a global tax if Canada does not participate.
 
Quote from psytrade:

Harper's right. Without global liquidity, we'd be carrying our <b>Canoes</b>.

Did I say <b>Carry</b>, as in Carry Trade?

Don't let a beaver eat your paddle:

http://network.nationalpost.com/np/...s-dollar-carry-trade-a-brief-explanation.aspx
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Indeed.

Why is this the only country against this tax?

Secondly, what is the Conservative government's motivation for being against it? I am a supporter of Harper and the Conservatives, but I am not so naive to think that even they would not mind some extra revenue coming in. Surely it couldn't be that damaging politically to go along with what the rest of the G7 wants? Are they a white knight in all of this?
 
I like non-linear payoffs too, I'm guessing Carney needs one for his ilk at Goldman every 18 mths. Why does it seem that Carney & Co is subsidizing his book by way of the Canadian taxpayer?
 
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