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I don't believe in governments running the private banks. This tax money will be wasted by the government anyway and will go down the drain and contribute nothing to the economy and improving the unemployment picture. Government socialism, what is it good for.

100K maintenance requirement (I think). BTW I don't think that with both those firms you have to have portfolio margin to get risk based margin on short options.

Hope for sun but prepare for rain. Obama and Geithner are not trustworthy and can easily buckle under political pressure.

Next thing you know some congressman proposes the FFT that has to be paid by small traders because big banks are already burdened by bank tax and should be exempt. No, small traders have to be in the same boat with the big banks. Otherwise each group will be conquered one by one.

The most important in what sense?

Instead of insurance levy the banks should be simply required to keep higher capital reserves.

To bail out or not bail out was ultimately government's decision so the buck stops there. And remember the banks themselves are as good taxpayers for many years before the crisis as anybody else. Does it count?

And further down: "Turner is mostly unrepentant. While his words may have been imperfect, he now says, he stands by the sentiments behind them. “I wish I had said ‘economically useless’ rather than ‘socially useless,’ as it would have been more precise,” he says. " To call...

Here we go again: http://www.bloomberg.com/apps/news?pid=20601109&sid=aKeO6gsaeQ_M&pos=13

It's unfair to those who don't have 25K of cash.

Keeping a low profile is a mistake and sign of weakness in my opinion. In a democracy majority wins the vote. And the majority does not need to be told necessarily about the negative consequences of the tax for the small traders but explaining to the public that the tax is going to hurt their...

I think you are meandering. Rules of the game should be always always fair for all players. No matter if it's a sport or business in general.

What do you mean?

As long as it's acceptable by everybody and nobody is exempt.

Unfair in my mind is when the lawmakers want to impose the transaction tax and at the same to exempt the market makers and the mutual funds. Unfair is when the regulators are giving advantage to some players over others and creating by this the markets that are run and controlled by profs (mafia).

Are they actually obligated to disclose their trading strategies?

Yes, markets should be fair for all participants. No more mafia style markets. That's the task the regulators should focus their efforts on. But if somebody makes money because he has faster computers or better algorithms so let it be. That's fair in my mind.

How far-fetched would it be to have pieces of your blog published in let's say NYPost or NYTimes?

While I commend your efforts do you actually think that non-traders read your blog?

The only effective way to convince the masses is through media with good publications that explain the negative impact of TT on Main Street. Unfortunately small retail traders do not control the mass media.