During the recent transition talks, I have not heard or read anything the transaction tax. Does anyone know Gaithner's (or of anyone of importance in the new administration) views on it?
It was a "suggestion" posed by House Democrat DeFazio of Oregon to House Speaker Pelosi. It was signed by 11 other Dems. I don't believe that it would ever gain any "traction", let alone become law. Don't worry about it.
The threat of a transaction tax is an effort by legislators and lobbyists to "shake down" the exchanges for campaign contributions and lobbying fees.
Summers is the concern, not Geithner. Summers was for it in the past. He last said he changed his mind. But, considering he pushed for it in the past, his waffling can change back to bite us.
But he was pushing for it at the time when the spreads were considerably higher than now. In today's dynamics he knows it would not fly.