all i know is that i am a liquidity provider. i dont flash monster size, bang away on the bid trying to take down a stock for 1 penny, etc. i come in, and tighten the spread, or i float at layers i think something might be undervalued, or overpriced - and hence helping every MOM and POP trying to get PANIC orders filled. the service i provide, is 100% benefical for every 401k, and pension individual. And, I take on all the risk associated with price, and perceived price as determined by myself. i just dont see, how this is bad. yet, i understand, arguements against Wall Street, etc.
1/4% Tax on all stock trades pushed in NY Times today
- Thread starter seasideheights
- Start date
The 1/4% won't ever pass, even 1/10th% wouldn't pass... but 0.005% may pass and while it would make things exponentially more expensive, it would not in my opinion ruin daytrading other than millisecond traders.
Ultimately I'm still in the camp that no tax of the sort passes.
TraDaToR,
What exactly was said in the paper? .005% in stocks and futures or would there be a different % for each asset class like futures/stocks/options all having different %'s?
Thanks
What exactly was said in the paper? .005% in stocks and futures or would there be a different % for each asset class like futures/stocks/options all having different %'s?
Thanks
Opinion by Bernard Kouchner in The Financial Times on innovative financing (September 16, 2009)
http://www.diplomatie.gouv.fr/en/fr...s-on-innovative-financing-16.06.09_13222.html
The UN wants this tax.
Reminds me of the UN's Oil for Food Scam in Iraq where the UN crooks siphoned off $22 billion with hardly a mention in the media.
http://www.diplomatie.gouv.fr/en/fr...s-on-innovative-financing-16.06.09_13222.html
The UN wants this tax.
Reminds me of the UN's Oil for Food Scam in Iraq where the UN crooks siphoned off $22 billion with hardly a mention in the media.
He said it would depend on the financial product.
He is also referring to german asshole minister Peer Steinbruck and said that "UK would be open to talk about it in a meeting of 58 countries and non governmental agencies" ( ? )
I don't know what "group" he is referring to... But it's not good.
He is also referring to german asshole minister Peer Steinbruck and said that "UK would be open to talk about it in a meeting of 58 countries and non governmental agencies" ( ? )
I don't know what "group" he is referring to... But it's not good.
The French guy has been proposing this for years now, to no avail. Its tough to get the US on board for any international tax. There is a better chance of it hapening within our soil then on an international level. I still do not think it will happen here. The NGO'S he is talking about are all teh liberal help and feed the world NGO'S at the expense of everyone else.
http://www.bloomberg.com/apps/news?pid=20601109&sid=aOUS5tWatZ9o
In this link I found on Bloomberg, its the German Finance minister who proposed the tax the other day, looks like he is having a tough time just mainting his status in goverment. He now sees he will not win the election against Merkel.
In this link I found on Bloomberg, its the German Finance minister who proposed the tax the other day, looks like he is having a tough time just mainting his status in goverment. He now sees he will not win the election against Merkel.
some posters came to the erroneous conclusion that their interest and Goldman were aligned because of flash trading.
it never was because that era is ending.
GS has known it for months.
http://www.reuters.com/article/businessNews/idUSTRE58G6KP20090917
GS doesn't care about you because they will be exempt from transaction tax as a broker dealer.
it never was because that era is ending.
GS has known it for months.
http://www.reuters.com/article/businessNews/idUSTRE58G6KP20090917
GS doesn't care about you because they will be exempt from transaction tax as a broker dealer.