Wednesday, January 14, 2009

Proposed Financial Transactions Tax Meets Enemies of the State

[Post Summary]

I have taken off my robe, how can I return?
Song of Solomon

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No matter the following is a case of closing the barn door after the horses have been let out...

A financial transactions tax proposed in a recent NY Times op-ed piece deserves thoughtful discussion.

Thoughtful discussion... This can happen despite every attempt to sabotage dialog. Thus, I ask: do you not believe we must discuss real problems and their solutions?

Too many years perpetrating a fraud has the invisible hand been given. That's my answer to Joe LaVorgna's, "Who is to say what is speculative or not?"

We have ourselves a casino here ... and it presently is collapsing of its own weight. This would not have happened if wildcat finance had been reigned in some years ago. A tax on derivative financial transactions is long past due.

Seeing how wealth has been destroyed (including what's rightly yours), what are we to make of those who defend the fraud that brought Bailout City, Bernie Madoff, and your decimated retirement fund?

What of government formed to insure domestic Tranquility and promote the general Welfare? Might a financial transactions tax be crafted to serve some greater good? Indeed, is this not the larger principle the nation was formed to serve and protect?

The CNBC crew has some explaining to do...

—Tom Chechatka

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