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

[sheda]

Merkel said she will continue to push for a levy because “reasonable regulation” is needed for economic confidence to return"

No, a functional government that does not live in absolute denial, spend months in "talks" unable to agree on anything, operating from hysterically laughable economic fallacies is needed to return confidence.


"Trust in the reliability and competence of many financial market participants has been damaged, she said"

Trust in the reliability and competence of the European Union and its political turds has been slaughtered on the international stage this year, beyond belief, I get the feeling finance ministers who come from a relatively safe distance feel as though they are working with children, "Europe is making progress on learning the alphabet" pat on the back hurray hurrah....

It has taken me some time to fully accept the extent to which they do not get it, I have been thinking about relocating this last week or so, South Africa was high on the list

 

[Stok]

Quote from jackpearson:

"Merkel Says Won’t Accept U.S. Balking at Finance Transaction Tax"


You don't rule us Ms. Meglomaniac!!!







Two Jackasses

Man...is it time for another WWII? Fuck her!!

She is also feeding off the OWS crowd and trying to enrage them.

Also, it is Germany who HATES trading...someone posted a German gov official saying that 70% of trading doesn't do anything for the economy and it was war against it.

 

[sculptor66]

Quote from Stok:

Man...is it time for another WWII? Fuck her!!

She is also feeding off the OWS crowd and trying to enrage them.

Also, it is Germany who HATES trading...someone posted a German gov official saying that 70% of trading doesn't do anything for the economy and it was war against it.

Actually, it's the stupid German politicians who hate trading.

Those politicians do not speak for all Germans. Of course, there are many, many clueless people in Germany who favor a transaction tax - but in this regard Germany does not differ much from other countries. Clueless people are a worldwide phenomenon, unfortunately.

 

[Stok]

Quote from sculptor66:

Actually, it's the stupid German politicians who hate trading.

Those politicians do not speak for all Germans. Of course, there are many, many clueless people in Germany who favor a transaction tax - but in this regard Germany does not differ much from other countries. Clueless people are a worldwide phenomenon, unfortunately.

Yup...that is what gives me unease. I said before, if a few EU countries do this, we can witness the destruction and hope it then dies. But the language and the war being waged not only on the political front, but to the dumb masses makes this scary. The world has gone liberal insane in the membrain!

 

[sheda]

Beware - Brussels sharks are circling the City

Central Securities Depositories Regulation
Single Euro Payments Area Regulation
Target-2 Securities
Alternative Investment Fund Managers Directive
Undertakings for Collective Investment in Transferable Securities Directive
Packaged Retail Investment Products
Insurance Mediation Directive
Prospectus Directive, Transparency Directive,
Key Investor Information Document (UCITS 4).
Consumer Rights Directive
Electronic Money Directive
Investor Compensation Schemes Directive
Deposit Guarantee Schemes Directive
Insurance Guarantee Schemes
Payment Services Directive
Capital Requirements Directive (versions 2, 3 and 4)
Solvency II Directive
Financial Conglomerates Directive
Crisis Management Framework
Securities Law Directive
Credit Rating Agencies Regulation.

Regulation establishing European Banking Authority
Regulation establishing European Securities and Markets Authority,
Regulation establishing European Insurance and Occupational Pensions Authority
Regulation establishing European Systemic Risk Board
Council Regulation conferring tasks on European Central Bank re European Systemic Risk Board functioning
Amending Directive giving enhanced powers to European Supervisory Authorities (Omnibus 1 and 2), Financial Transaction Tax.

There are at present at least 38 pieces of European regulation that have either been passed or are being formulated in Brussels which will have an impact on the UK’s financial services sector. That, at least, is according to a detailed chart put together by the regulation experts from Clifford Chance from which the above list is taken. Some senior figures in the Treasury think the final number could be even higher and top 50.

http://www.telegraph.co.uk/finance/...re-Brussels-sharks-are-circling-the-City.html

 

[pescador]

Not strictly about FTT, but an interview with Nigel Farage about the insanity of Euro economy and politics.

http://rt.com/news/greece-portugal-serbia-revolution-727/

 

[drukes1234]

The FTT is also going to be an issue during the US 2012 presidential/congressional elections. There's big union money available to candidates who support the FTT. [/B]

There is big banking money available to candidates who are against the FTT.

 

[tomdavis]

I agree, but my point was that the FTT is not going away quickly or quietly. Unfortunately for us, it's going to be a hot political issue for many more years.

Quote from drukes1234:

There is big banking money available to candidates who are against the FTT.

 

[jackpearson]

Quote from tomdavis:

I agree, but my point was that the FTT is not going away quickly or quietly. Unfortunately for us, it's going to be a hot political issue for many more years.

definitely....

they'll be there & so will we.

 

[jackpearson]

On the issue of financial transaction tax, Mukherjee said, "Some countries have strong reservations... It (the issue) has not been mentioned in the communiqué." The issue will be discussed during the Mexico meetings, he said, adding that the problems caused by volatility in commodity and oil prices will also be deliberated at the next meeting in Mexico.

http://www.deccanherald.com/content/198362/g-20-commitment-info-exchange.html