Published by Zeb BhamLord Adair Turner has once again let his chagrin for the City be known with an attack on the foreign exchange market's carry trade business.Speaking to the Times, the chairman of the Financial Services Authority (FSA) declared that it is difficult to assess whether the global carry trade has any true value to the real economy.The global forex trading carry market has been valued at around $1,500 billion annually. Carry traders by one foreign currency cheaply to invest in high-yielding emerging markets, a practice Lord Turner labelled "economically valueless"."If I could wave a magic wand here, and greatly reduce the carry trade, I’m pretty certain the world would be a better place," he railed.Lord Turner also courted controversy last year when he announced his support for a Tobin tax in an article in the September issue of Prospect magazine.Such a tax would impose a marginal levy on every single financial transaction carried out, a move which could bolster public coffers enormously.For more information on foreign exchange treasury services and risk management, visit our Corporate FX site