Re: Tobin tax

["William B. Ryan" <william_b_ryan@xxxxxxxxxxx>]

Henry C. K. Liu writes:
http://csf.colorado.edu/mail/pkt/spring99/msg00187.html

"...The variety and number of financial derivative instruments are
endless and the terminology describing them are esoteric and
legalistic."

Which is why no-one really understands them.  Anything that reduces
the volume of such ephemeral paper transactions should therefore
improve real market efficiency and stability.

But he continues:

"Suffice to say that any increase in transactional costs increases
market inefficiency..."

Bill Ryan: http://www.geocities.com/CapitolHill/Senate/7018

_______________________________________________________________
Get Free Email and Do More On The Web. Visit http://www.msn.com