http://zerohedge.blogspot.com/2009/06/louis-gerstner-kill-casino-wall-street.html For someone who championed sending US jobs overseas....one can understand.... The desire is to have "all of the talent offshore" ?
80% short term gains tax is rather extreme for legal behavior. I thought if your act is legal, the government cannot punish you. If a jury finds your act is illegal, you may then be punished. Of course this tax would apply only to individual traders, investors and small firms, to get them out of the way of the tax evader, manipulators like GS and ilk.
The point being this is the guy who pioneered and championed sending the best US jobs overseas..... I find this to be somewhat amazingly brazen.... As I have mentioned before..... The future in trading lies with the BATS model being positioned in the best jurisdiction....with guys like this around.....not in the US....
Total DICK! Never heard a more stupid argument... If CEOs ran their businesses properly and built genuine value (instead of their own personal greed), they wouldn't even have to be concerned about stock sellers.
......................................................................... Just another arrogant gas bag talkin his book.... Every pundit who gets a shot at the podium does the same.... ............................................................................... Would love to see GS et all.....walk off to a friendly jurisdiction with the BATS model....and produce a "real" securities highway.... unencumbered....
And why am I not surprised he does not mention 80% tax on short-term CEO compensation to prevent myopic planning?
Gerstner is King of the share-buyback scam to boost EPS by reducing float. This from the guy who banked huge bonuses from IBM while cooking the books and depleting their cash position. Hey Lou, how about letting the IRS claw-back those IBM bonuses at an 80% rate?
Gerstner, Bernanke, Geithner, Even Obama are truly proving, that meritocracy in America is dead. There are just too many dumb EVIL MFers in positions of power that want to tell you what to do. This statement is so stupid on so many levels. whatever happened to individual property rights? I buy something I should be able to fing do as I please.