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The tax could be avoided if it came in I'm sure, but trading would change IMMENSELY and it would be very hard to put on serious size... let's just do our parts and make sure it never comes to that.

If the Dems just simply paid their own income taxes we'd probably have such a big budget surplus that there would be transaction CREDIT where we get paid 0.25% for every trade we make.... I want to propose that one.

I wish there was a fork because I'd be the first one to get my hands on it! Unfortunately there are people like DeFazio that wouldn't get paid unless they didn't look like they were at least trying something so he has to make up bullshit and push it hard.

Seems like Russia is considering a tax on cross boarder currency trades, it mentions nothing about equities, options etc, let's hope it stays that way.

We don't need something that was posted this morning posted again stfx.. instead comment on the CBS article.

What seaside said, stop bitching here and let's get to work fighting this.

I feel stupid for not even thinking of breaking the orders up which obviously would work but I think the issue with that is because the volume will fall off a cliff in such a big way it will be very hard to work for your price if you want to fill a big order very quickly because the spreads will...

I don't know about you guys but a $95,000 intraday position for me is absurdly small and would have quite a big impact on my trading. Also, don't think for a second with liquidity falling off a cliff that commissions won't sky rocket, this WILL be passed on to everyone at every level. I still...

Why are you posting an article from February about a movie that is already released and researched?

Good stuff rsikit!

The UUP isn't following the Greenback AT ALL today.. is this a short term phenomena and it will get back to tracking the underlying or is this the new UNG/USO where it doesn't track the underlying at all? Thanks

Brown is an absolute idiot and is going down swinging, but he knows as well as everyone that he is going down. Needless to say this tax would be horrific, but if they are now so desperate that they are willing to impose only a .005% tax then that would not eliminate the vast majority of trading...

This literally just crossed the wires. 11:51 (US) Treasury Sec Geithner: Opposed to trading transaction tax, any fee on bank liability needs widespread agreement - TV interview 11:53 IMF's Strauss-Kahn: Transaction tax on trading could be avoided - TV interview

It's just sad when she could with a straight face say it's gaining momentum around the world, she disgusts me. I'm quite upset that no opponent to the tax has come out with the incredibly simple counter-argument that this tax would be a NET REVENUE...

Yes I know and I agree with everything you are saying but for anyone to say the issue is dead is just wrong and we must remain vigilant.

This problem is not over by any means, I wish it were. Unfortunately no one that has come out against this tax yet holds a vote in the congress or the senate.

Good news today but we must stay vigilant and as someone said somewhere in this HUGE thread there are a lot of stupid rules that could be imposed that could really screw up trading to discourage short-termism so we have to keep on these clowns.

I just don't at all understand how something like this could be "snuck in" a bill. This isn't a small issue that wouldn't be noticed. If it got snuck in there would be a repeal or a bill taking away the tax shortly after that so they could actually discuss it.

Frank is coming up on CNBC talking about financial regulation soon, we'll see if he mentions anything of interest.

Make one for blacccckberrrry!!!