  We analyze the possibility of reduction of systemic risk in financial markets
through Pigouvian taxation of financial institutions which is used to support
the rescue fund. We introduce the concept of the cascade risk with a clear
operational definition as a subclass and a network related measure of the
systemic risk. Using financial networks constructed from real Italian money
market data and using realistic parameters, we show that the cascade risk can
be substantially reduced by a small rate of taxation and by means of a simple
strategy of the money transfer from the rescue fund to interbanking market
subjects. Furthermore, we show that while negative effects on the return on
investment ($ROI$) are direct and certain, an overall positive effect on risk
adjusted return on investments ($ROI^{RA}$) is visible. Please note that
\emph{the taxation} is introduced as a monetary/regulatory, not as a fiscal
measure, as the term could suggest. \emph{The rescue fund} is implemented in a
form of a common reserve fund.
