Europe’s Robin Hood Tax Is a Risky Proposal

Europe’s Robin Hood Tax Is a Risky Proposal
The Bloomberg Editorial Board takes a position against a European financial transactions tax saying the idea that the tax would be stabilizing for markets or help avert another financial crash sounds appealing, but doesn’t hold up. The tax wouldn’t have much effect on mortgage bonds or complex derivatives, which trade infrequently and which were largely responsible for exacerbating the credit crisis.