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Old Jan 13th, 2009, 11:26 AM   #43
Landis82
 
 
Join Date: Jul 2006
Posts: 8,592
Quote:
Quote from gnome:

There are several parties who deserve the BIG FINGER OF BLAME here.

1. First and foremost, the DemoCraps!! Their 1999 legislation demanding Affirmative Action Lending and that Fannie Mae guarantee the loans.

2. The Fed for providing stupidly excessive liquidity at stupidly low rates.

3. Regulators who didn't put a stop to CDS "BETS".

4. Regulators for allowing 40:1 leverage at investment banks.

5. SOME of Wall Street... for promoting a flawed, highly leveraged, [thought to be "risk free"] investment.

6. Credit rating agencies for grading "shit as sugar".

7. Greedy investors levering up to load on the perceived "risk free return".

NONE of these are the Wall Street trading community...
I'm sorry to break this to you Gnome but #3, #4, and #5 all come from the "Commodity Futures Modernization Act of 2000" which was authored by a bunch of REPUBLICAN senators and house of reps.

In fact, the legislation was introduced in the House by Representative Ewing of Illinoiss, and co-sponsored by Bliley of Virginia, Combest of Texas, LaFalce of NY ( the only Dem ), and Leach of Iowa.

It was never even debated in the House.

A companion bill was introduced in the Senate by Dick Lugar of Indiana, and so-sponsored by Fitzgerald of Illinoiss, Gramm of Texas, and Hagel of Nebraska, along with Dems Harkin of Iowar and Johnson of South Dakota.

Anyone see a MIDWEST pattern here?

http://en.wikipedia.org/wiki/Commodi...on_Act_of_2000
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Old Jan 13th, 2009, 11:27 AM   #44
gnome
 
 
Join Date: Jun 2002
Location: Denver
Posts: 10,007
Quote:
Quote from Landis82:

I'm sorry to break this to you Gnome but #3, #4, and #5 all come from the "Commodity Futures Modernization Act of 2000" which was authored by a bunch of REPUBLICAN senators and house of reps.
I didn't say it was the fault of DemoCraps, did I.

And please don't forget, I'm not a fan of RepubliClowns neither.
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Old Jan 13th, 2009, 11:30 AM   #45
larrybf
 
 
Join Date: Mar 2001
Posts: 1,117
MARKETS ARE GLOBAL...............I am not the least bit worried....let the bailout nation politicians feed into the hands of the lazy welfare bagholders..........I will just choose a new nation as my domicile.....
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Old Jan 13th, 2009, 11:33 AM   #46
themarket
 
 
Join Date: Oct 2005
Posts: 117
People, people....calm down a minute. Did anyone actually read the article? The article called for a .25% tax. POINT 25 %. That's NOT 25 % . Its 1/4 of 1%. I hate taxes as much as the next person, but its hardly the end of the world.
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Old Jan 13th, 2009, 11:36 AM   #47
gnome
 
 
Join Date: Jun 2002
Location: Denver
Posts: 10,007
Quote:
Quote from themarket:

People, people....calm down a minute. Did anyone actually read the article? The article called for a .25% tax. POINT 25 %. That's NOT 25 % . Its 1/4 of 1%. I hate taxes as much as the next person, but its hardly the end of the world.
Yeah, we got it. 0.25% is VERY large for a trader... Duh!
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Old Jan 13th, 2009, 11:36 AM   #48
seasideheights
 
 
Join Date: Aug 2004
Posts: 984
Quote:
Quote from themarket:

People, people....calm down a minute. Did anyone actually read the article? The article called for a .25% tax. POINT 25 %. That's NOT 25 % . Its 1/4 of 1%. I hate taxes as much as the next person, but its hardly the end of the world.
The tax on 1000 shares of AAPL would be $220.

$88,000 * .0025 = $220.
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