Wall Street tax must be international: Pelosi

WASHINGTON (Reuters) - Any tax imposed on financial transactions would have to take effect internationally to prevent Wall Street jobs and related business moving overseas, U.S. House Speaker Nancy Pelosi said on Thursday.

“It would have to be an international rule, not just a U.S. rule,” Pelosi said at a news conference. “We couldn’t do it alone, we’d have to do it as an international initiative.”

The top Democrat’s comments seemed to spell longer odds for the Wall Street tax, which some Democrats in the House of Representatives are proposing as a way to pay for job-creating legislation.

“This is just something that is on the table, it hasn’t been developed to a high priority. but it has substantial currency in our caucus,” Pelosi said.

Treasury Secretary Timothy Geithner said on Thursday that he has “not seen a version of that tax that I think would be appropriate for our country.” Read more at www.reuters.com