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Old Jan 13th, 2009, 01:29 PM   #85
obama-lama
 
 
Join Date: Dec 2008
Posts: 123
Quote:
Quote from drukes1234:

You guys realize this has been floated around for YEARS and while it would kill all of us, we shouldn't absolutely freak out because of some little NY Times article. DeFazio has no pull and Sommers when last asked about the transaction tax said it is not realistic and would do more harm than good.

Yes this is VERY scary but I can find articles promoting the transaction tax almost daily and from all the way back to 1998. I am actually confident Obama has a smart enough team around him that this won't happen, especially Larry Sommers.
Smart or dumb doesn't matter. Do you really think CME (Chicago) is going to get government APPROVAL and SUPPORT into the multi-trillion OTC-clearing market without giving up something(s)? STT is a gift in that case.

Your confidence is misplaced. You need to have confidence in yourself to do the "right thing". Politicians will not save you.

Once unthinkable, now unstoppable
obama-lama
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Old Jan 13th, 2009, 01:30 PM   #86
zdreg
 
 
Join Date: Oct 2003
Posts: 9,001
it is typical that ET posters don't understand the situation.
Wall Street and goldman are behind it
broker dealers will get an exemption.
    Quote
Old Jan 13th, 2009, 01:31 PM   #87
NielsenDK
 
 
Join Date: Oct 2007
Posts: 93
Quote:
Quote from zdreg:

it is typical that ET posters don't understand the situation.
Wall Street and goldman are behind it
broker dealers will get an exemption.
If the big boys will get an exemption then the $100 billion tax income tag is NOT possible.
    Quote
Old Jan 13th, 2009, 01:36 PM   #88
jficquette
 
 
Join Date: Jun 2002
Posts: 4,451
Quote:
Quote from Landis82:

Not at all.

But due to your lack of brain power and inability to think for yourself . . . you continue to show everyone here on ET that you are unable to see just how much politicians have screwed over the financial markets and the U.S. economy.

My guess is that you hadn't even heard of the "Commodity Futures Modernization Act of 2000" until I brought it to the attention of your little "pea-brain", and probably had no clue that WTI crude oil was allowed to trade without CFTC oversight over in London and Dubai, or that such a commodities act allowed for the birth of Enron ( that screwed over the State of California which you reside ), or the fact that CDS came from this absurd piece of legislation and were allowed to trade OTC with absolutely no oversight whatsoever.
I guess you little pea brain doesn't remember that Clinton signed that act.

You little dems just don't get it. Truth just constantly evades you.


John
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Old Jan 13th, 2009, 01:38 PM   #89
clacy
 
 
Join Date: Sep 2006
Posts: 2,565
Quote:
Quote from NielsenDK:

If the big boys will get an exemption then the $100 billion tax income tag is NOT possible.
No shit. What's the point of trying to tax the little guy? That is a drop in the bucket and would eliminate the retail trader completely, thereby obsoleting itself.
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Old Jan 13th, 2009, 01:39 PM   #90
seasideheights
 
 
Join Date: Aug 2004
Posts: 984
Quote:
Quote from Landis82:



Suffice to say, it lacked VOTES back then and it will lack VOTES now.

But once again, ET doesn't understand this kind of legislation.
In fact, it's practically a waste of time posting here.

Votes can easily change when constituents call & push the idea.

Wildfires start easily.

Don't discount it.
    Quote
 
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