Thursday, February 19, 2009

clever and dumb

Today's clever prize goes to a few members of congress who introduced a bill to tax all stock market transactions at 0.25% to pay for the Wall Street Bailout. It'd kill day traders, greatly reduce volatility, and lead to a more stable system based on soundly reasoned long term buys instead of disruptive momentum speculating.

And the dumb prize goes to Abu Dhabi for banning employers from firing citizens. Who would ever start a company or hire any employees if they knew that they would be stuck with every employee they hired until the business went bankrupt? 100% dumb. Companies need to shrink sometimes and get rid of unproductive folks. It is part of a healthy process.

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