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tortoise
Registered: Nov 2005
Posts: 2510 |
01-15-12 01:23 AM
Quote from clacy:
I see no way the UK or US embrace the FTT. Not going to happen.
The idea is to force the FTT onto UK and US through regulatory subterfuge. The ongoing UK/EU fandango is well-documented. The NYSE situation is far sneakier. Basically, NYSE/Deustche Boerse would be required to levy a transaction fee equivalent to the German FTT levied on each transaction. The proceeds would go to Berlin. Absolutely no US regulatory involvement.
Clever.
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sheda
Registered: Apr 2011
Posts: 621 |
01-15-12 01:23 AM
The political class is out of control. We have physicists, ex school teachers and god knows what else writing and playing games with critical policy's in complex fields well out of range of there expertise.
One person facing an election can twist and do untold damage to all the systems needed by the population, for no reason more than they want extra votes to maintain there position.
I really don't like politics and only show an interest when there's something on the cards that will have a direct effect upon me, why don't I like politics?
The Euro crisis pantomime of the last 12 months is a classic example, not only do we have two unskilled unqualified MUPPET'S running around the world like some secret agents on a mission to save the earth, we actually have the rest of the world following there every move and giving them legitimacy, banks are to big to fail, they say, well how about politics?
It would seem that is the biggest to big to fail, as every time it does a good percentage of the populations involved get hammered, entire nations go bankrupt or worse to war,which has bought death to hundreds of millions.
Watching, reading or listening to main stream politics gives me a numb feeling, the sheer importance of what is going on and the absolute inadequacy of those granted the trust to do it actualy makes me siiiiiiiiiiiiiiiiiiiiiick.
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clacy
Registered: Sep 2006
Posts: 2394 |
01-15-12 01:46 AM
Quote from tortoise:
The idea is to force the FTT onto UK and US through regulatory subterfuge. The ongoing UK/EU fandango is well-documented. The NYSE situation is far sneakier. Basically, NYSE/Deustche Boerse would be required to levy a transaction fee equivalent to the German FTT levied on each transaction. The proceeds would go to Berlin. Absolutely no US regulatory involvement.
Clever.
There is a ZERO percent chance that the US will allow Germany to impose anything like this on US securities regardless of who owns the NYSE.
Even the Dems wouldn't want to allow that to become a political issue in the 2012 elections and after that it's a moot point, as the Republicans will likely control both houses of congress, and it's a coin flip on the Presidency.
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Tom B
Registered: Apr 2009
Posts: 737 |
01-15-12 01:54 AM
Quote from clacy:
There is a ZERO percent chance that the US will allow Germany to impose anything like this on US securities regardless of who owns the NYSE.
Even the Dems wouldn't want to allow that to become a political issue in the 2012 elections and after that it's a moot point, as the Republicans will likely control both houses of congress, and it's a coin flip on the Presidency.
+1
A foreign owned company based in the US must follow US laws.
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tortoise
Registered: Nov 2005
Posts: 2510 |
01-15-12 01:57 AM
Quote from Tom B:
+1
A foreign owned company based in the US must follow US laws.
An exchange can impose whatever fees it wishes. There's no law against that.
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tortoise
Registered: Nov 2005
Posts: 2510 |
01-15-12 02:02 AM
Quote from clacy:
There is a ZERO percent chance that the US will allow Germany to impose anything like this on US securities regardless of who owns the NYSE.
Even the Dems wouldn't want to allow that to become a political issue in the 2012 elections and after that it's a moot point, as the Republicans will likely control both houses of congress, and it's a coin flip on the Presidency.
Well, you're probably right. But this is Germany's plan, though it may be destined to fail. Just look at the language in Merkel's party's statement--first EZ, then EU, then US. It's conspicuously expansionist, an avowed strategy to meddle in the domestic affairs of its competitors.
Certainly wouldn't be the first time Germany, misreading the enemy, has shot itself in the head. If memory serves, they've launched and lost a couple of world wars that way.
"History does not repeat itself, but it does rhyme." -- Mark Twain
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