Sunday, August 21, 2011

Good riddance to bad rubbish

Michael Spencer, the wealthy founder and chief executive of Icap, the world's biggest interdealer broker, said of the Tobin tax that such a levy on bank transactions would severely undermine the City if it was not adopted globally. Spencer said at the weekend a European Tobin tax could drive business that is currently dominated by the City overseas to financial centres like New York and Singapore.

IMO: Hm, he calls it a "silly" tax. Does this mean Merkel and Sarkozy are "silly" ? Sounds like hasty speech or bad judgement. Sure, he and his ilk may not remain as operators in the EU. But are they really wanted anyway? Certainly not in the EU, and they do seem to have ruined the UK economy and caused nothing but chaos. "Good riddance to bad rubbish" sounds a fair verdict. A saving in tar and feathers if they leave voluntarily, some may say. I will not comment about Bernie Cornfeld and his alleged walking on water on Lake Geneva, as you would have had to see the state of Lake Geneva then to appreciate the point.

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