FutureOfCapitalism.com (Free subscription) | yesterday
House Democrats Peter DeFazio of Oregon and Ed Perlmutter of Colorado are readying a bill under which "the sale and purchase of financial instruments such as stocks, options, derivatives and futures would face a 0.25 percent tax," the Hill reports. The
The Business Insider (Free subscription) | yesterday
Congressman Peter Defazio's proposed bill, "Let Wall Street Pay for the Restoration of Main Street Act of 2009," is getting attention for the .25% tax it would impose on trades, but it might be difficult to find legislative support for the bill beyond its five co-sponsors. The worry among legislators is that unless a "Wall Street tax" has international support, it will drive trading...
Jesus is Lord, A Worshipping Christ (Free subscription) | yesterday
A House bill still being drafted aims to raise $150 billion each year to pay for new jobs. Under a bill being drafted by Democratic Reps. Peter DeFazio (Ore.) and Ed Perlmutter (Colo.), the sale and purchase of financial instruments such as stocks, options, derivatives and futures would face a 0.25 percent tax. The bill, a copy [...]
Reason Magazine - Hit & Run (Free subscription) | 11/25/2009
Via Drudge comes this news , reported by The Hill newspaper, of a long-awaited (by lefties) stock transaction tax bill. Just about every sentence in the article is infuriating, in that dull way: Under a bill being drafted by Democratic Reps. Peter DeFazio (Ore.) and Ed Perlmutter (Colo.), the sale and purchase of financial instruments such as stocks, options, derivatives and futures would face a 0.25...
Slate Magazine (Free subscription) | 11/25/2009
By the time President Obama landed back on American soil last Thursday, politicians on Capitol Hill were beginning to show the effects of a week without adult supervision. Two Republican members of the Joint Economic Committee greeted Treasury Secretary Tim Geithner by demanding his resignation – the same outlandish demand that Democratic Rep. Peter DeFazio had made on MSNBC the day before. The...
Cara Community - Comments (Free subscription) | 11/25/2009
In reply to Blog for November 24, 2009 : Vad, I have stated this before: Peter DeFazio (Ore.) and Ed Perlmutter (Colo.) are definitely IQ challenged if they think a trading tax will do anything other than destroy the US capital market. Have they seen the volumes this week? Well, put on a tax and those volumes will be 10% of that and you can kiss goodbye to NYSE and NASDAQ because we will only be trading...
SCSUScholars (Free subscription) | 11/24/2009
Two weeks after their party's leaders told Gordon Brown to stick it , two Democratic congressmen want to tax financial transactions to partly reduce the deficit, and partly to build a kitty for public sector jobs. (h/t: Andy ) Under a bill being drafted by Democratic Reps. Peter DeFazio (Ore.) and Ed Perlmutter (Colo.), the sale and purchase of financial instruments such as stocks, options, derivatives...
The Business Insider (Free subscription) | 11/24/2009
Calls for Treasury Secretary Geithner's resignation reverberated at a Congressional hearing last week. But the White House is not yet considering sacking him, says James Pethokoukis of Reuters: [A] new Rasmussen poll finds that 42 percent of Americans think Geithner has done a “poor” job handling the economy versus 20 percent who rate him “good or excellent.” And the furor...
DownWithTyranny! (Free subscription) | 11/23/2009
American president's, regardless of party, usually pick an economic team friendly to Wall Street. In fact, key Wall Street players usually are the heart and "soul" of presidential economic teams. Peter Orszag may be a decent OMB director but the team is mostly a bunch of predatory bankster shills, barely an iota better than the disastrous team Bush fielded. Tim Geithner, Lawrence Summers,...
Maggie's Notebook (Free subscription) | 11/23/2009
Last week, in a meeting of the Joint Economic Committee, Republican Kevin Brady (Texas) asked Treasury Secretary, Timothy Geithner, if he would resign "for the sake of our jobs." Michael Burgess (R-Texas) told Geithner, face-to-face, "I don't think you should fired, I think you should have never been hired." And in a television interview, Democrat Peter DeFazio (Oregon) said America...
The Guardian (Free subscription) | 11/23/2009
• Supporters admit international levy needs US support • Obama administration and Wall Street unenthusiastic Advocates of a Tobin tax on financial transactions accept that any international levy would need US support and an increasingly vocal coalition of Democrats in Washington is pressing a sceptical Obama administration to get on board. The fourth highest ranking Democrat in the House...
Institutional Financial Derivatives (Free subscription) | 11/22/2009
The Drudge Report Months after Lyndon LaRouche denounced the behaviorist economists in the Obama Administration during his April 11 webcast, U.S. House Rep. Peter DeFazio (D-OR), speaking on MSNBC's The Ed Show, told host Ed Schultz that both Secretary of the Treasury Timothy Geithner and White House economic policy director Larry Summers should be replaced. DeFazio said: "We may have to sacrifice...
DownWithTyranny! (Free subscription) | 11/21/2009
If you've been following the Blue America PAC at all, you may already be aware that we've decided that we won't be endorsing any candidates for the House in 2010 unless they are genuinely enthusiastic about passing John Larson's Fair Elections Now Act ( HR 1826 ). We're not asking for some unenforceable pledge; we want nothing less than heartfelt enthusiasm. Right now Larson has 117 co-sponsors from...
Maggie's Notebook (Free subscription) | 11/21/2009
Democrat Congressman Peter DeFazio (Oregon) told MSNBC that America needs a new economic team. Even Chuck Schumer says "the world economy is at stake" Congressmen Kevin Brady (R-TX), Sam Brownback (R-KS), and Michael Burgess (R-TX) actually spoke the minds of the American people. See video below. Peter DeFazio Rep. DeFazio appeared on The Edge and was asked: Should he [Geithner] stay in his...
Open Left (Free subscription) | 11/21/2009
On Wednesday, Chris wrote a quick hit on Representative DeFazio's statement that there was "growing consensus" among Congressional liberals that Treasury Secretary Timothy Geithner should step down. He went on to say that Summers should go as well. Folks in the blogosphere have been saying as much for a long time now, but this seemed like something new, coming from a veteran Representative....
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