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

Quote from jackpearson:

Bill Gates is a problem.

http://www.huffingtonpost.ca/andrew-cooper/financial-transaction-tax_b_1002197.html
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Yep. It's a problem. These guys make all their $$ in free markets then want to destroy it.

Here is what needs to be done to debunk the bailouts. The fucking TARP has been paid back in full plus interest ($60 billion taxpayers made). We need this to be pointed out!! Robert Green, can you pen this is your next piece!! It was mentioned as well in the rolling stone article. I hate these fucking liberals!!
 
Quote from jackpearson:

Bill Gates is a problem.

http://www.huffingtonpost.ca/andrew-cooper/financial-transaction-tax_b_1002197.html
More...

I totally do not get why Gates has picked up this issue... what's in it for him?

If he feels that HFT is a problem... he's a software guy... he knows there are much more targeted ways to slow down HFTs through regulations that can easily be enforced using software.

If he feels the banks need to "pay their share" -- he's way way way too smart to think that an FTT will be shouldered by the banks. He knows full well that the tax will be passed on... exemptions will be handed out... etc.

So what the hell? Why is he bulldogging the FTT?

I used to work in software and this guy was the anti-christ. Now I trade markets and this guy is again popping up as the anti-christ. Leave me alone bill gates! :D
 
Get ready for Cannes festival. My bet is that Obama will temper the US position and say: "If Europe's experience reveals great, we will follow"( Go for it, we will most likely get your business anyway ). A way to calm "Occupy WS" and such. Eurocrats will get super excited. I am worried for the UK.
 
Quote from TraDaToR:

Get ready for Cannes festival. My bet is that Obama will temper the US position and say: "If Europe's experience reveals great, we will follow"( Go for it, we will most likely get your business anyway ). A way to calm "Occupy WS" and such. Eurocrats will get super excited. I am worried for the UK.
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honestly if the French & Germans try and force this over British heads it will eventually lead to the UK leaving the Eurozone...and that may not be such a bad thing for the UK.
 
German Government: No Plan For National Financial Transaction Tax

BERLIN -(Dow Jones)- The German government Thursday denied that it was prepared to impose a national tax on financial transactions.

A spokesman for the finance ministry said reports quoting Finance Minister Wolfgang Schaeuble advocating a go-it-alone policy were erroneous.

"The reporters misunderstood the minister. There are no plans for a national FTT," the spokesman said.

http://www.nasdaq.com/aspx/stock-ma...o-plan-for-national-financial-transaction-tax
 
Quote from TraDaToR:

Get ready for Cannes festival. My bet is that Obama will temper the US position and say: "If Europe's experience reveals great, we will follow"( Go for it, we will most likely get your business anyway ). A way to calm "Occupy WS" and such. Eurocrats will get super excited. I am worried for the UK.
More...
Obama can't even get thru this congress a needed jobs plan, with targeted millionaire tax. He has zero chance of getting a much broader tax, such as this. We would have to see a change in the party control for this to even have a chance of seeing the floor. Remember, even with a supeer majority for 2 years, DeFazio's bill(s) never made it beyond sponsorship, let alone out of committee and up for a vote. If Obama says anything to address this, it would be nothing more than a campaign ploy to rile his base. It's good to keep abreast of this but with the current Congress makeup and the projected increase in Reps in next year's election, this probably will not get much if any traction for a while.
 
deutsche bank warns about FTT etc.

FRANKFURT/BERLIN, Oct 13 (Reuters) - Deutsche Bank
<DBKGn.DE> would need 9 billion euros ($12.4 billion) in fresh
equity if new EU stress tests imposed a 9 percent core tier 1
capital ratio, two people with direct knowledge of the bank's
finances said on Thursday.
The bank would pass the latest European Banking Authority
test if a 7 percent ratio were to be required, the sources told
Reuters.
Deutsche Bank declined to comment, but in separate remarks
the bank's chief executive said it would do all it could to
avoid a forced recapitalisation.
.......
.........

Before considering further measures to stabilise the euro
zone politicians and regulators should consider the cumulative
impact of proposals such as forced recapitalisation, a
transaction tax and writedowns on bonds.
 
Quote from TraDaToR:

0.01% of 60k = 6 $. No liquidity provider would survive on corn for example( if they don't adjust their spreads ).
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They want 1/10th of 1%.

1% of 60k = 600.

1/10 of 1% of 60k = 60.


60 on the buy + 60 on the sell = 120.
 
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