Tax banks for their success

[LC EFA]

'Tax banks for their success'

From correspondents in St Andrews, Scotland

Agence France-Presse

November 08, 2009 06:56am

BRITISH Prime Minister Gordon Brown has called on the G20 to consider a tax on financial transactions to make banks more accountable to society.

Mr Brown told G20 finance ministers meeting in Scotland that "a global financial transactions levy" would be one way "to reflect the global responsibilities of financial institutions to society."

Although the British Prime Minister warned of the need to avoid "prohibitive costs" on the banking sector, he said: "I do not think these difficulties should prevent us from considering with urgency the legitimate issues."

Mr Brown stressed Britain would not act alone on the so-called Tobin Tax, saying it would also have to be implemented by all the world's major financial centres, including the US, Europe, Asia, the Middle East and Switzerland.

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Looters are on the march.

[rich_t]

Hey...  Socialism has to be financed somehow right?

 

[NHSparky]

And of course, banks being the magnanimous organizations they are, would NEVER dream of passing those costs to their customers, right?

Jesus, Gordie--even Helen Keller can see how ****ed up an idea that would be.