Sunday, November 8, 2009

British Prime Minister Brown Brings the Summit Down

A here, here for Prime Minister Gordon Brown for this quote:

"it cannot be acceptable that the benefits of success in this sector are reaped by the few, but the costs of its failure are borne by all of us."

He makes that statement about banks which is directly related to the Tobin tax, a tax on all currency trade--across borders. A mere .05 tax on all financial institutions could amass 700 billion dollars a year, plenty enough to affect new development in climate change mitigation.

Supporters of the tax include Germany and France, can ya guess what country is opposed? Yep, you guessed it...the United States.

Here's another quote that caught my attention:

"Gordon Brown today signaled that payback time for banks could be just round the corner," says Max Lawson, Oxfam senior policy adviser. "A tax on banks would be a major step towards clearing up the mess caused by their greed."

Boy, that Gordon Brown and Max Lawson sure are sexy and smart. Talk like that sends my heart into palpitations!


Durango said...

Brits have such a way with words. Gordon Brown sounds almost Churchillian.

Jovan Gonzales said...

That is so true. I like how the US gubment is opposed, when they just had to spend billions of taxpayer dollars to "help" them stay out of bankruptcy. It's the least the dang banks could do. Oh I forgot, I'm an idiot for thinking that a bank could afford to have a .05% tax when they charge 3000% interest on a $1 overdraft.

Cheap Tricks and Costly Truths said...

Jovan, ah, to be so young and yet so cynical! Luv it.

Durango, now if you could speak all James!