- #176
OmCheeto
Gold Member
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I heard on the radio this morning that some congressman named DeFazio was proposing a new 0.25% tax on wall street transactions. I was half asleep and can't find reference to it yet on the web. Perhaps it was just a dream. Does anyone know the average daily transaction amounts for the various markets here in the US?
Here's a little blip on Defazio I found while looking for the above:
Here's a little blip on Defazio I found while looking for the above:
http://www.politico.com/blogs/thecrypt/0908/House_pushes_back_DeFazio_blasts_Paulson_as_a_Wall_Street_executive_masquerading_as_secretary.html"
September 22, 2008
Democratic Rep. Brad Sherman of California warned Congress not to blindly approve the estimated $700 billion bailout plan, which he called “the most generous power grab a Wall Street executive has ever asked for.”
And just in case you were wondering who that Wall Street executive was, Democratic Rep. Peter DeFazio spelled it out on the House floor before Sherman spoke.
“We should not be rolled by a Wall Street executive who is masquerading as the secretary of the Treasury,” DeFazio said, referring to Henry Paulson, who previously served as CEO of Goldman Sachs.
In an interview with Politico, Sherman called Paulson’s proposed legislation an “awe-striking, mind-boggling power grab” designed with only Wall Street in mind.
DeFazio warned that Congress will not be “rushed” into passing a bill because of dire warnings from the administration to act quickly to stave off a global financial meltdown.
“The world will wait,” DeFazio said. The Oregon Democrat said Congress needs to adopt a “thoughtful” plan that helps struggling homeowners as well as Wall Street banks.
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