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Old 09-25-2008, 07:54 AM
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There's no doubt there will be opportunity here for those with money, I heard yesterday listening to an expert on wall street that if they brought back the tax that was eliminated on stock transactions, it could pay for itself in a few years, literally wall street could bail themselves out! it seems that the tax was producing 1 percent of GNP at its peak, and the tax was in place to pay for the FCC budget, so with so much money coming in they decided to cancel the tax, and that led to un-fettered speculation in the market, the bailout is 4% of GNP it would not take long to pay for itself, and it would serve to slow the speculation. I forget what the actual percentage is but it works out to 25cents for every $100 trade, and the largest stock market in the world has it, the London stock exchange, Any way I think we need to call our representatives and tell them NOT to take this deal, we are being rushed into this with no for-thought to the consequences of our actions, if we are going to give wall street a trillion dollars they better have proof it will work!
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