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It is hanging on the coattails of an energy bill that the House had already passed to the Senate, the new bill wasn't allowed to come from the Senate, so it had to be added to another bill the House had already passed up to them. Might be the reason for the length.

From my understanding, it's not in the Senate's bill. This is just something that DeFazio is pushing in the House. If the Senate bill passes through the House, then I think we're in the clear for now. I don't think the House will decide to vote down the bill again after the flood of calls...

Nope, everything I'm reading says stocks, options, and futures.

My worry is the dollar. At some point, we're going to push the world too far and lose our status as its reserve currency. The lawmakers aren't even looking at that. If countries have one less reason to have all those dollars and treasury bills/bonds sitting there, they just might start...

There was a paper I posted earlier where it had derived the $150 billion. I still haven't had time to read it (husband is out of town this week and I have two kids...). I know at least one person read it, though. Can anyone shed some light?

Oh my, this just gets better and better :eek: http://www.oregonlive.com/politics/oregonian/index.ssf?/base/news/1222827925297110.xml&coll=7 ---------------- Excerpt: DeFazio said the plan could be executed quickly and would have an almost immediate positive effect on the markets...

I think .25%, that article is the only one I've ever seen with .025%. I think the journalist just got his decimal point in the wrong place. This is from the original letter DeFazio wrote to his colleagues (I posted earlier in the thread) when the idea was first floating around, so it's...

Okay, this article quotes DeFazio directly, I don't think he'll be dropping this. Email your own representative, I think, and stress to them the impact this can have on jobs and the dollar. I think emailing DeFazio is most likely falling on deaf ears...

I hope you guys are right, Google News was saying this article was only from about 10 minutes ago and it mentions it as .25% of the transaction and basically says traders are like addicts on dope. http://www.bizjournals.com/pacific/stories/2008/09/29/daily26.html

Hmmm, interesting. I'm still thinking it's on the transaction and the articles got it wrong, though, since that's what his original letter said and I don't see how it being on the profits is much different than raising the capital gains tax?

Okay guys, sample email to use for brokerages to email their investor relations department. Not pretty or fancy but at least now even the lazy of us can do it! -------------------------------- What is being done by [insert broker name] and other brokers to combat the transaction fee now...

Here's a video where DeFazio speaks, he seems to be positioning himself as the one who proposes something that wouldn't cost taxpayers anything, I think we might be pretty well screwed in this :( http://kezi.com/news/local/49600 This article has a pic, I'm guessing this picture is the...

Hmmm, looks like DeFazio's floating around his own bill now with some of his colleagues: http://news.opb.org/article/3192-defazio-introduce-bailout-alternative-progressives/

Looking for articles on it, I'll post anything I find. At least this guy's in our corner, he was saying that business would just be driven to foreign exchanges if a fee was enacted: http://wbztv.com/consumer/economic.crisis.bailout.2.829696.html (search for transaction within the article)

Is it time to throw out a solution that would still raise a lot of capital but not totally shut us down (along with a ton of online brokerages and who knows what else!), it would still be harmful but not as harmful for a lot of us? I really think increasing the short-term capital gains rate...

If all the futures contracts decided because of this to start exchanging on a foreign exchange that would give other countries a *great* opportunity to push for all those commodities to be exchanged in something other than the dollar. I don't know it just seems like other countries are way too...

And how exactly does this get passed? :p

Just wetting my panties because I know what violence can come when a superpower starts to realize that it isn't anymore. The money win or lose I'm okay with. mysharona2, sorry. You got run over. Better to cut the loss and learn from it.

No, we're busy making the Dow and S&P crash now.

Wouldn't an increase on the short-term capital gains tax make more sense than this? Remove the 60/40 preferential treatment for futures trading, and make almost all of them short-term like they are and you've got a *lot* of taxes coming in. Also, they wouldn't be reducing volume or liquidity...