I see Gordon Brown has proposed something similar to the transaction tax that’s been recently floated by Turner, this at the G20. It was promptly said no to by Tim Giethner for the Americans.
This is just political posturing by Brown, I reckon he’s aware he can propose that the banks be hung drawn and quartered routinely every day before breakfast, making himself look good in the process, because of course in the American’s corner is Tim Geithner representing Government Sachs who will nay-say it. The American government pretty much IS the banking fraternity so Brown can suggest all manner of draconian measures secure in the knowledge they’ll all be vetoed by former Goldman Sachs’ man Geithner. Brown knows he will look good to the uneducated public but he also knows the educated bankers will guess what he’s up to and understand Labour is still the bankers’ friend. Brown’s suggestions amount to political theatre, nothing more.