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Thanks Tortoise. Baker is wrong again, especially on his facts this time. He says the UK has a FTT. Wrong, they have a stamp duty on shares, which is very different. Stamp duty is retail only - just what Geithner doesn't want - and stamp duty is easier to enforce on final share stamps of...

Fee vs Tax. I'll check that BDO link later. UK can veto EU-wide tax, since that requires unanimous consent. We worried before about back-door VAT FTT. User fees are another angle too. Precedent in US. Obama has his financial-crisis responsibility fee in his budget, which has not passed...

Everyone here -posting recently - seems to be against FTT, and loyal to our cause. Pro-FTT forces are diverse, and our anti-FTT forces are diverse too. Pro-FTT has a big tent to gather force, and we need a big tent too to defeat them. I think we are stronger by being tolerant with each other...

All good opposing views on my posts, and I've thought that way too at times. Last year, I was concerned that inevitable meltdown 2.0 in the EU would frame the debate for Germans to penalize banks, softening the playing field for their FTT plans. That has already happened. I now feel that...

We need the markets to beat some sense into Merkel and Sarkozy. If we have another several weeks of action like today, they will get the message and probably change course. They are betting markets calm down and they may not. I just put the below content into a bulk email inviting people to...

The Franco-German war or vendetta against bankers will hurt the euro more and lead to a break up of the euro zone and EU. A bank run is already underway in the EU periphery countries, and since the Franco-German beat down on the UK (banking interests) last week, the euro has collapsed...

http://www.nytimes.com/2011/12/13/world/europe/guido-westerwelle-german-official-backs-tax-vetoed-by-britain.html Another NYT FTT puff piece. This writer just cut and pasted a paragraph from their last puff piece. Why give credibility to Westerwelle over Cameron? Seems like a full court...

Still to read the entire CBO report. But it's a good report for us and glad Senator Hatch requested an official report to put out the FTT match from lighting a fire. We don't want GOP blocks and fillibusters, without explanation, we want CBO reports concluding that a specific tax proposal is a...

Most prop trading firms use Section 475 MTM accounting on securities trading, which is business ordinary gain or loss treatment. That's not good for people with material capital loss carryovers, since you can't offset ordinary income with capital losses, except for the once per year 3k capital...

Agree, and I wrote that as a comment on WSJ last week.

Good point. I just want to see a Fed short-term loan to pay customers immediately, and to repay the Fed back from transactions rescinded with counter parties.

I wrote this new blog last night, and Forbes just published it. "How To Pay Back MF Global Customers 100%" http://www.forbes.com/sites/greatspeculations/2011/12/09/how-to-pay-back-mf-global-customers-100/ I started a new ET thread on it, to see if we can advance these ideas with...

Anyone like this idea? Maybe, we can push it with regulators, the Fed and Congress. How To Pay Back MF Global Customers 100% http://www.forbes.com/sites/greatspeculations/2011/12/09/how-to-pay-back-mf-global-customers-100/ Thanks.

Fair enough, agree with you too. But, I think the UK is being stigmatized by the general media as a trouble-maker and selfish. They are standing up for financial services and without financial services the EU and euro zone will be disenfranchised. In my view, France and Germany have been...

This fate was sealed when the UK said no to joining the Franco-German-designed euro. When the eurozone ran into inevitable crisis, Germans refused to pay the bill, and they won't allow sufficient bailouts either. Rather, Germany grabbed more powers and tried to hit the UK with the bill, using...

Your the best Tom and we think alike. Please everyone help advance my last Forbes blog, which is on the "mark." Kindly add some Comments at the bottom, to to get a discussion going on Forbes if we can. Please Share it too on the social media from that page. I want Forbes to hear the alarm...

We are right to blame Germany on snowballing FTT. My Forbes editor told me yesterday, as he was editing and publishing my German hardball blog 'you can't call the German's names.' He's right, we need to win on our arguments and reality. Glad my editor added FTT to my blog title too, as it...

Sorry guys late night and late start today. Was too anxious to watch CNBC and Bloomberg late last night as the UK desk opened news coverage on this. We are all rightfully very concerned about it. I am reading the latest news and will reply soon. Still catching up. It seems to be unfolding as...

sorry, not sure why my last post was repeated twice.

Please click to read and share my latest blog. Germany is trying to ram through a FTT and we all need to stop them. Otherwise, it could snowball and affect you too! While Europe Slides, Germany Plays Hardball...