Let me return to the bank tax issue or the transactions tax for a moment. I think I've indicated my position. I've heard numbers such as several hundred billions of dollars per year that could be earned from a small tax on transactions, whether foreign exchange transactions or, somehow, a broader set of transactions. I've been thinking about this, and the implication seems to be that this would be somehow painless.
My question has to do with two things: one, the reaction of financial institutions; and two, the incidence.
On the reaction, having worked for a bank, and you having worked for something similar—