In an editorial titled “Opposite of Bold,” the New York Times endorsed the Obama Administration’s proposal to levy a Financial Transaction Tax on banks:
Mr. Obama also must … embrace ways to pay for initiatives, such as redeploying money from the bank bailout or endorsing a financial-transactions tax on Wall Street.
The danger is that the initiatives announced so far this week will move to center stage, eclipsing more difficult and more important needs. It is Mr. Obama’s job to make sure that does not happen.