This is why we need to open up the presidential debates to third party candidates. This idea of a tax on securities and derivatives transactions as a means of financing the Wall Street bailout is intriguing.
What do you guys think?
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That's an interesting idea. I wonder how, if at all that would impact small businesses, or businesses new to the market? If there was a way to make the big corporations (banks) and those responsible pay for their own mistakes, that seems to be the fairest solution.
My guess is that this would impact large financial institutions much more than small businesses. The tax would be levied on financial instruments such as mortgage backed securities and credit default swaps. These types of transactions played a key role in the mess that we are in right now, and were worth hundreds of millions of dollars.
Interesting. It's pretty disappointing so far to see how the bailout is being handled (some massive amount being used to pay for executive bonuses - disgusting). I would have hoped that taking an ownership stake in the bank would have meant we'd actually get paid back, but things are looking bleak.
Yeah, my understanding is that the U.K had attachments to their capital injections. Mainly that they banks had to use it to lend.
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