Will flash trades now lead to a financial transaction tax?

[MindMover]

Renowned author Michael Lewis’s charge that the stock market is rigged against regular investors is making waves in Washington.

Liberal lawmakers in particular believe that Lewis is bringing critical attention to an issue that could boost their efforts to assign a tax on all financial transactions.

Rep. Keith Ellison (D-Minn.) joined with civil rights advocates Friday to hold a rally pushing his financial transaction tax bill.
At the event, he mentioned Lewis’s book Flash Boys and blasted high-frequency traders as “predatory” and “parasitic.”

Lewis asserts that Wall Street firms have invested millions to obtain a split-second advantage on market moves.


http://thehill.com/blogs/on-the-money/banking-financial-institutions/202722-will-flash-trades-lead-to-a-financial

[TransitJohn]

1. Kick and rec.

I've been for such a tax since I first read about such a proposal here on DU years and years ago. It's long past time.