U.S. Senator Dianne Feinstein response to my email regarding stupid traders tax bill

Write your representatives regarding this stupid bill:
http://www.rallycongress.com/no2tradertax/1536/tell-congres-to-block-trader-tax/


Here is the response I got:

From:
"senator@feinstein.senate.gov"
To:
gustavo_couto@yahoo.com

Dear Mr. Couto:

Thank you for contacting me to express your concerns about the "Let Wall Street Pay for Wall Street's Bailout Act of 2009" (H.R. 1068). I appreciate the time you took to write and welcome the opportunity to respond.

As you know, on February 13, 2009, Representative Peter A. DeFazio (D-OR) introduced the "Let Wall Street Pay for Wall Street's Bailout Act of 2009," which would impose a tax of at least 0.25 percent on certain securities transactions. Representative DeFazio's bill has been referred to the House Committee on Ways and Means and similar legislation has not been introduced in the Senate.

I certainly understand your concern about the potential effects that this legislation could have on small businesses and investors. Like you, I am frustrated by many of the irresponsible practices that have contributed to the recession and instability in financial markets. While a tax on securities transactions may not be the most appropriate response, I support additional transparency and oversight of financial institutions that accept Federal assistance.

To that end, I introduced legislation with Senator Olympia J. Snowe (R-ME) known as the "Troubled Asset Relief Program Transparency Reporting Act" (S. 133). This bill would prohibit firms receiving financial lifelines from the federal government from using such funds for lobbying expenditures or political contributions. Additionally, it would require that firms publicly disclose how they use the funds and abide by a set of responsible corporate governance standards. On February 4, 2009, Treasury Secretary Tim Geithner announced a set of guidelines, similar to those contained in my legislation, requiring firms that accept lifelines to abide by policies that limit luxury expenditures and executive compensation. I am pleased that Secretary Geithner has taken this important step and will continue to work with the Treasury Department and my Senate colleagues to ensure adequate oversight and transparency of Federal funds.

Once again, thank you for writing. If you have any additional questions or concerns, please do not hesitate to contact my Washington, D.C. office at (202) 224-3841. Best regards.
Sincerely yours,
Dianne Feinstein United States Senator