Monday, November 28, 2011

Hedge fund chief backs financial transaction tax plans

From the Financial Times:
The founder of one of London’s biggest hedge funds has given qualified support for a European tax on financial transactions, breaking ranks with many of his peers fiercely opposed to such a measure.
and the key quote:
“I would be in favour of a low [financial transaction tax],” Mr Harding said, “if part of it was used to finance more supranational regulation of markets.”
A good idea, from an unusual source. And he voices something that we've long complained about:
“I am surprised to the degree to which the Treasury and the FSA [Financial Services Authority] act as lobbying organisations for the financial services industry,” Mr Harding said.


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