Hillary wants financial transaction tax

[der_kommissar]

You posted one minute after my post. Watch the video. Hillary is very sick. Handler carries diazpam pen.

Just yesterday, Riddler said that he added you to his long ignore list...One might say that he has been "affected".

 

[der_kommissar]

I agree. HFT should be taxed out of business. Every retail trader should support this. The casino known as Wall Street needs a major overhaul and more, not less regulation. Now that should start a shit-storm here. I am serious though, and if one is old enough you would know that the manipulators have screwed up this market. This is another gift from the Reagan era, a one man wrecking crew whose policies helped destroy the working class. Whoa, I'm on a roll this morning. Better stop now before my friends on the right have their heads explode.

It's "campaign season" (i.e. all sorts of populist bullshit is proposed that will never see the light of day come January 2017)...the HFT/FTT and an assortment of other topics are "hot button" issues...Hillary's approach is make promises to both sides of the aisle when the opportunity is present...One day she might talk about "making Wall Street pay", the next day she might take the exact opposite position in front of a different crowd...

The power is in the lobbyists (you already knew that)...Heck I still remember all of these "make them pay" speeches back in 2008...Look at these markets in 2016.

 

[Frederick Foresight]

It's "campaign season" (i.e. all sorts of populist bullshit is proposed that will never see the light of day come January 2017)...the HFT/FTT and an assortment of other topics are "hot button" issues...Hillary's approach is make promises to both sides of the aisle when the opportunity is present...One day she might talk about "making Wall Street pay", the next day she might take the exact opposite position in front of a different crowd...

The power is in the lobbyists (you already knew that)...Heck I still remember all of these "make them pay" speeches back in 2008...Look at these markets in 2016.

Okay, then try and calm the OP down before he has a conniption. Or has that ship already sailed?

 

[fhl]

Read your own link:

Hillary Clinton's plan is short on details, but she says that high frequency trading "has unnecessarily burdened our markets and enabled unfair and abusive trading strategies that often capitalize on a 'two-tiered' market structure with obsolete rules."

She has proposed a tax on cancelled orders only, which is unlikely to generate any revenue. It's also strange because if the goal is to curb spoofing, it's already illegal and was made so under Dodd-Frank.

Would there be any harm to taxing cancellations? It's not clear, but an argument could be made it would lead to higher costs. Presumably, there would be some quota of untaxed allocations that would be permitted. To avoid going over the quota and paying the tax, HFTs would want to avoid paying the tax, so they may not provide bids and offers with the same regularity. That could lead to wider bid-ask spreads.

It's not a firm platform position because it's not on her web site. And in any event, that's not FTT. Know your words; buy a dictionary today.

So you see fit to provide a cutout of the link and it does nothing but destroy the argument that she, and you, have made about hft's.
Is that your way of providing us your insight and an example of 'knowing your words'?

 

[Frederick Foresight]

So you see fit to provide a cutout of the link and it does nothing but destroy the argument that she, and you, have made about hft's.
Is that your way of providing us your insight and an example of 'knowing your words'?

The principal point, which continues to escape you, is that there is no evidence Clinton is looking to impose a transaction tax.

 

[fhl]

The principal point, which continues to escape you, is that there is no evidence Clinton is looking to impose a transaction tax.

Well, as long as we agree that you were completely wrong about the secondary point of this thread, it looks like not all was lost in the exchange.

 

[Frederick Foresight]

Well, as long as we agree that you were completely wrong about the secondary point of this thread, it looks like not all was lost in the exchange.

There's a secondary point?

 

[Spike Trader]

I told you they say the dumbest things..

 

[achilles28]

Dipstick, if anything she's looking to go after the HFTers who have been screwing the market. And it's not a transaction tax. Why are you being protective of HFT? You think they're doing you any favors?

The Forbes article, which evidently you didn't read, said her proposal was heavy on policy and overly complicated. Loopholes anyone? And it's not for the big banks. Already she's sold out to Wall Street.