This tax on the financial sector has the power to raise hundreds of billions every year globally. It could give a vital boost to the NHS, our schools, and the fight against child poverty in the UK – as well as tackling poverty and climate change around the world.
Not complicated. Just brilliant.
Don't miss the movie "Margin Call" There was a stream of transactions that began with selling homes to unworthy buyers, by brokers...who immediately found the buyer a mortgage with very low interest (+very low beginning payments - to explode later) prior to this explosion - the mortgage was sold by the local banker to a Wall Street Banker... who took thousands of these mortgages and packaged them - showing future cash flow as being "big."Unfortunately, when the payments by the orig. home buyers - elevated to a "real" payment - there began voluminous defaults - these packages were sold to investors, before the defaults - and the beginning of "The Great Economic Fall" began - watch this movie and see what happened with the "Hot Potato" mortgage packages began their collapse.
Wall Street is the most responsible for our economic disaster - as their employees got millions in severance packages to cause the distruction of our economy for at least the following 10 years.
(and the first to be bailed out)