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

Geithner to Consider Leaving Treasury After Debt Debate

Treasury Secretary Timothy F. Geithner has signaled to White House officials that he’s considering leaving the administration after President Barack Obama reaches an agreement with Congress to raise the national debt limit, according to three people familiar with the matter.

http://www.bloomberg.com/news/2011-...asury-after-debt-ceiling-debate-resolved.html

I'm not a fan of Geithner, but at least he's consistently anti-FTT. Let's hope his replacement is also anti-FTT.
 
Quote from tomdavis:
I'm not a fan of Geithner, but at least he's consistently anti-FTT. Let's hope his replacement is also anti-FTT.
More...

Not to mention Trichet is leaving his post in a few months . . .
 
Quote from tomdavis:

Geithner to Consider Leaving Treasury After Debt Debate

Treasury Secretary Timothy F. Geithner has signaled to White House officials that he’s considering leaving the administration after President Barack Obama reaches an agreement with Congress to raise the national debt limit, according to three people familiar with the matter.

http://www.bloomberg.com/news/2011-...asury-after-debt-ceiling-debate-resolved.html

I'm not a fan of Geithner, but at least he's consistently anti-FTT. Let's hope his replacement is also anti-FTT.
More...

his boss is pro tax from the gut except for union people.
 
Quote from zdreg:

his boss is pro tax from the gut except for union people.
More...

Just because he is pro tax does not make him a dysfunctional fantasist - don't get me wrong i know nothing of the man its just having the perception of the future changed based on the positions of individual characters is off balance...there is more backing the anti financial transaction tax case than an individual or two in power.

One is the entire industry the other is reality and out come. After reading so many news articles posts and opinions, trying to assess the seriousness of this risk to my future,feeling like a boat bobbing up and down on the seas of uninformed opinion and being lashed by the gale force winds of fat incompetent useless clueless would not last 5 minutes in a real job politicians i have realized it actually does not matter.

Worst case scenario = Europe and America implement said tax.
The industry moves to Asia along with your accounts and for once the people who created a situation in the world wont be able to sweep the consequences under the carpet.

You have the right to bank/trade anywhere you like in the world - i have no doubt Asia will adjust to service the extra business and any one with enough between there ears to be successful in this game wont see a penny drop down the huge crack - formally known as western financial centers.
 
Quote from MrPowerBallad:

Not to mention Trichet is leaving his post in a few months . . .
More...

That shouldn't matter. His successor isn't a fan of the FTT either.

[...]He (Mario Draghi) also repeated Trichet's line that common eurobonds and an EU finance ministry may be possible in the future but that eurozone economies are as yet not sufficiently integrated, adding that a financial transaction tax would not work unless it was introduced on a global level and did not necessarily address the right problems[...]

http://www.publicserviceeurope.com/article/537/new-era-or-same-old-for-ecb
 
EU Wide Tax Idea Rebuffed By German Minister

BERLIN -(Dow Jones)- German Deputy Foreign Minister Werner Hoyer has rejected a financial transaction tax that would directly go to the European Union as proposed Wednesday by European Commission President Jose Manuel Barroso.

"It would be a further tax burden, and I believe citizens rather expect the contrary," Hoyer told Deutschlandfunk radio in an interview conducted later Thursday and broadcast Friday morning.

Responsibility for the budget of the European Union shouldn't be taken away from national parliaments, Hoyer said.

http://www.nasdaq.com/aspx/stock-ma...=eu-wide-tax-idea-rebuffed-by-german-minister
 
Italy Passes $68 Billion in Budget Cuts

[...]The final draft may have dropped a financial transaction tax of 0.15 percent that the Italian stock exchange called “profoundly worrisome,” and limited the planned increase in tax on trading profit, Il Sole 24 Ore reported today. A final copy of the plan may be released later today.

“That’s positive news for the banks that would have had a negative impact from the budget plan in the order of 3 to 4 percent of earnings per share, according to our estimate,” analysts at Intermonte said in a note this morning[...]

http://www.bloomberg.com/news/2011-07-01/italy-passes-68-billion-in-budget-cuts.html
 
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