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http://thehill.com/opinion/columnists/lanny-davis/107351-a-debt-free-america-yes-its-possible US transaction tax bill proposal on all transactions except securities - entirely devoted to pay off national debt. Outlier but interesting. Sounds like a competing idea to a VAT.

Another issue. Are regulators pressuring prop trading firms – behind the scenes - on the “disguised retail customer” (beneficial-owner) issue too? Regulatory pressure may call for more equal profit-sharing between traders and their prop trading firms, plus not allow deposits...

We are hearing similar themes and trends from others, confirming what Mr. Schonfeld is saying in his letter to traders, who he plans to let go soon. Computer hardware and software is continuing to take over jobs and displace people throughout our economy. It’s partially why there is a...

Belgium presidency on bank tax and FTT. EU will wise up and not overly-tax banks, with higher-capital rules coming, some in G-20 not taxing their banks, and EU meltdown 2.0 well under way. It's eating your own._ They don't want FTT on normal investors but they like the idea of an FTT to...

http://mobile.thehill.com/on-the-money-blog/107159-democrats-divided-over-whether-to-pay-for-tax-cuts-part-2.html Congress is hunting for offsets to pay for extending Bush middle class tax cuts. Minor concern that Rep Larson (D-Conn) quoted in this article - and a sponsor of FTT - may float...

The trend is not our friend on FTT. The Franco-German alliance is pushing a FTT for the EU, or at least the eurozone. Perhaps as a new Euro Tax to solidify the EU economic union, which is under financial-attack from short-sellers in their view. They want a fiscal-tax back-bone and view FTT...

Guru mention the Fin Reg bill having FTT on swaps transactions. I've been working hard the past few weeks to blog, comment and fight against first the tax extenders bill and now Fin Reg. Passage of either could open the door to an FTT in my view. Often times I mention no FTT too. We can block...

Canada won't tax its banks in this manner, so won't U.S. banks just move more operations from NYC to Toronto if the US penalizes its banks in this way?

Both you guys don't have that many posts on elite from what I can see next to your anonymous ids. Prop trading firms have evolved over the years in question partially due to heat from regulators. Much of this is not transparent to traders or on elite. How many of the firms have remained...

Here is my blog from last night. Edited version of prior posts here. Tell me where you think my thinking is wrong, besides the complaint about me ringing the fire bell early in your view. We are discussing this on today's conference call and podcast too. Thanks. FINRA's notice to prop traders...

gr8tr8r, your comments are fair and I may be overreacting. I hope my concerns will not be borne out. No one likes to ring a fire alarm bell without a fire. I was re-prompted on this story last week by a nervous industry-CEO, who probably knows more than most of us do. One industry-attorney...

From The New York Times: France, Germany and U.K. Support Bank Tax The three largest European countries solidified their commitment to direct bank taxes in the build-up to a G-20 summit meeting. http://nyti.ms/a1NthM Get The New York Times on your iPhone for free by visiting...

tOpdOg, please remember what I mentioned earlier, that I am just exploring these issues with you all on this thread. That I am not an authority on regulation and compliance, plus I am not an attorney. I am trying to flush out this story like a journalist might and speak with various people...

Part III Update I just spoke with a CEO of a leading professional trading firm. We agreed that the regulators may be primarily concerned with protecting smaller traders from putting up deposits and losing their money quickly. Perhaps, as a follow up reaction to their enforcement action...

Part II Let’s go through the FINRA Notice 10-18’s list together. Much of it seems to focus on asking clearing firms to spot these red flags and then take action. Many clearing firms may not be able to spot these red flags, because prop trading firms structure things in a somewhat...

Part I Is FINRA, the SEC and others about to pounce on the day prop trading firm industry? Over the past decade, regulators prodded the prop trading firm industry to revise prior business models. To move away from engaging prop traders as independent contractors (1099-Misc. non-employee...

I asked another CEO in the prop trading / professional trading industry to read my above post. He emailed that he did ‘not disagree with my assessment, but thinks it goes deeper’ too. This CEO mentioned that prop trading can be fine, just like in Wall Street banks - at least until the...

Obama can't talk up new taxes too much at the G-20 as there is voter-fury to pay for it in the US. Just look at that failed tax-extenders bill in the Senate (on my Forbes blog). Populist forces are moving from get the banks-only to austerity and get BP._ Geithner was clear that an FTT falls...

Are proprietary trading firms that are registered as "non customer" broker-dealers – which the supposedly-good prop trading firms structure themselves as - mostly-exempt from FINRA's new & controversial red flag list? Maybe not. Does non-customer BDs meet FINRA’s Regulatory Notice...

http://m.guardian.co.uk/?id=102202&story=http://www.guardian.co.uk/world/2010/jun/14/angela-merkel-germany-coalition-collapse Merkel is on thin FTT-ice. Hope the Free Democrats can remain very relevant in the current or future coalition as they are anti-tax, including anti-FTT. Austerity...