Financial Transactions Tax

[Kerim]

Call me a socialist, but at first glance this FTT thing strikes me as a pretty good idea. It would raise a lot of revenue while having a cooling effect on some of the more pernicious facets of the financial industry? I hadn't heard anything about it before reading this one article, so consider me completely ignorant about the two sides of the question -- I'm sure there are good arguments against it too. Would love to hear opinions.