Seriously, this sort of excrement almost makes checks every box on English stereotypes about French bureaucrats.
The worst part is that you know that Nigel Farage is using this to make his point.
9 publicly visible posts • joined 15 Mar 2011
There are 2 reasons for a Tobin tax:
* Generation of revenue.
* Discouraging casino type speculation.
Of the two, the SECOND is the more important reason, and has always been cast as such.
If revenue is less than expected because speculation is reduced, then you have a, to quote xkcd, a "mission %$#@ing accomplished!" situation.
Investors, even those who who trade regularly, are not impacted greatly, but speculators, who trade constantly, such as the automated program traders, are, and this has the effect of reducing volatility and fraud in the market, because small margins on repeated trades become less attractive.