1/4% Tax on all stock trades pushed in NY Times today

Quote from seasideheights:

They already know the consequences. Schwab is one that discussed it on their most recent earnings conference call. Call them & ask why they're advertising on the 2PM Street Signs show that REPEATEDLY promotes the very idea that their CEO said will damage their business.

Advertising on CNBC is understandable. Advertising on the one program that will damage their business is odd.

http://www.schwab.com/public/schwab/nn/customer_service/contact.html

You don't have to be a customer to contact them.

A 60 second email will do a lot more than reading this thread or worrying about it.
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Thanks Seaside, if you dont mind I will also add Fidelity since I just commented about the TRADING LIKE A PRO commercial I just saw on CNBC. Emailed Schwab.

https://scs.fidelity.com/accounts/services/content/visitorsend_frame.shtml
 
I'm going to inform the T3trading community to do the same as far as emailing Fidelity and Schwab. It's a shame if they pass such a tax, as it hurts the honest independent trader the most.
 
I don't think it is so much her individually responsible for the story it is CNBC's program director that is responsible for what topics are discussed on CNBC or who makes an appearance that day. I imagine the talking heads are fed topics and issues to discuss.



Quote from rsikit:

She has some ego on her, cant let something that has been shot down internationally go by the wayside. She has been wrong and her ass needs to admit it already. As we saw this weekend, lots of countries came out against this including her own. She is such a whore, I would love to email her that but I wont email her becuase I do not want to fan this fire for her to keep talking about! She talks about Brown and how great he is bringing this up not realizing he is waning in political support at home and is granstadning on a public/news chasing headline stage.
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Here is a blurb from Politico on the weekend's events:

"ALSO ON THE RADAR: U.K. PRIME MINISTER BACKS DOWN ON BANK TAX PLAN AFTER GEITHNER SLAMS IT AT G20 -- FT's Jean Eaglesham and Chris Giles: 'Gordon Brown, the British prime minister, rapidly backpedaled from his proposal for a financial transactions tax on Sunday after a chorus of criticism of his plan set out in a speech on Saturday to a meeting of global finance ministers. The US led a backlash against the ... tax on financial transactions after Mr. Brown took a Group of 20 finance ministers' meeting by surprise with his proposal at the gathering in St Andrews, Scotland. ... London's emphasis switched after the idea of a tax came under fire from the US, Canada, Russia, the International Monetary Fund and the European Central Bank, in effect killing a proposal that Mr. Brown said needed global support to be effective. Tim Geithner, US Treasury secretary, said: 'A day-by-day financial transactions tax is not something we are prepared to support.' ... The prime minister's handling of the issue provoked renewed tensions with the Treasury."

-Guru
 
The UK Conservative Party, which is expected to win the UK election by a wide margin no later than April, just shot it down also.

"The Tories claimed that it was dead and that the affair showed Brown would do anything for a "cheap headline"."
 
To view it from a different angle:

do you really think that the US would push thru a transaction tax on all financial transactions (which would include...gov't debt - buying and selling of debt falls under "financial transactions" description) at a time when the gov't needs to issue new and continuing debt to finance operations? Who would be willing to pay an extra .25% on 3/6 month or 1-2 yr notes if this fee were to be tacked on and cannibalizing the yield?
 
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