Lets get the folks who caused the mess.

Reader comment on: Warren Buffett Backs a Transaction Tax

Submitted by Lyle (United States), Dec 5, 2009 17:54

Partly the proposal is a follow on to the promise made last year during the Tarp debate of making Wall Street pay for any losses in the Tarp. This is one way. If the tax was applied to government bond it is just a round trip thru the govenment because the buyer will want more return, so its in one hand and out the other. Many folks and I to a certain degree think a lot of the hedge fund/propietary trading/investment banks caused the crisis, and need to be made to pay, this is one way. Anyway compared to the costs on Wall Street 30 years ago the tax would be miniscule, recall that institutions then paid 40 cents a share in commission, and now its 4. I would raise the tax on the financial weapons of mass destruction the derivitaves to 4 basis points.

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