Saturday, August 20, 2011
Tobin tax- another sensible view
Emanuel Derman, Head of Risk at Prisma Capital Partners and a professor at Columbia University, where he directs their program in financial engineering says: " A Merkel-Sarkozy Tobin-style transactions tax on trading is worth trying, but not because it raises money for the government. It’s good because it puts a small amount of sand in the gears of frivolity whose demand for increased lubrication only seems to be useful ."
IMO: Wise words from Columbia University. There are other things which may also be done, but a carefully executed Tobin tax should work wonders. The Dodd-Frank Act, recently signed into law by Pres. Obama, is also a step in the right direction. Obviously induced time delays could help as well, but IMO not so much as a well done Tobin tax. And there is a lot more, but will Obama have time enough as President to do all the US requires. I still say : "bring back Glass-Steagal", and that would be just for a start.
IMO: Wise words from Columbia University. There are other things which may also be done, but a carefully executed Tobin tax should work wonders. The Dodd-Frank Act, recently signed into law by Pres. Obama, is also a step in the right direction. Obviously induced time delays could help as well, but IMO not so much as a well done Tobin tax. And there is a lot more, but will Obama have time enough as President to do all the US requires. I still say : "bring back Glass-Steagal", and that would be just for a start.
# posted by uv : 4:44 AM
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