Good idea! Leiken on You Tube denouncing Defazio's transaction tax. http://www.youtube.com/watch?v=9d0wCKlcVbg&NR=1
Madsen Pirie--Robin Hood Tax: why 350 economists are utterly wrong http://www.telegraph.co.uk/comment/...Tax-why-350-economists-are-utterly-wrong.html Capital will be made more expensive if this tax ever comes about, hitting the ability of poorer countries to raise investment funds. Fortunately the tax is not likely to come about, since it would require the agreement of every tax jurisdiction to make it work, and the record of international consent, as illustrated by the stalled World Trade talks, is minimal. Without that consent, traders would simply move to where it was not levied. The "Robin Hood Tax" might look superficially attractive, but it would do profound damage to the world economy and, far from hitting "the rich", it would be the world's poor who suffered most. This could be one reason why Bank of England Governor Mervyn King described it as "bottom of the list" of options. If campaigners want to spend charitable funds on these campaigns, they would be more effective in calling not for higher taxes, but for the end of the protectionist tariffs that prevent poorer countries from selling their goods.
Well look what we have here -- a very rare anti-FTT article from none other than the Guardian -- never thought I'd see the day. The best part is all the people freaking out in the comments section that such an article would be written on that site, and the author of the article responding to comments (another rarity for any news site). http://www.guardian.co.uk/commentisfree/2010/feb/15/robin-hood-tax-complicated
I think that when Madonna started supporting this tax it is safe to say that it jumped the shark, as it were.
NYC Trading Expo - Transaction Tax notes - Discussed the issue with one of the major brokers there & I learned that they hired someone full time to lobby exclusively against the transaction tax in Washington DC. - If anyone was in the Fidelity tutorial on options today (Monday), I was the one at the end who asked about the transaction tax & what Fidelity was doing to fight it. Asking at the end in front of about 100 people led to interesting reactions from those who never heard of it. I was asked a lot of questions from people as they left the room. None were referred here, as this thread is for career traders & industry execs. - Scott Redler from T3 Live who, a few months back, was able to get Geithner on public record about the tax & also did a little lobbying directly to Geithner after the question was asked was at the show today. Hi Scott, yes, it was me. - Mr. Green, I missed you. The people in your booth said you may be back later in the day. I stopped back twice but didn't get the chance to say hi. - A NASDAQ booth is at the show. Utterly Appalling answer from a NASDAQ employee with a very thick British accent when asked about the transaction tax. "Well... 1/4% isn't really that much is it. I know people aren't used to paying it but it's not really a lot." That wasn't the kind of answer to say to me. I "educated" him for a while then left. Mr. Green, if you can, stop over at that booth & talk to the fellow with the thick British accent. I am stunned a NASDAQ employee had that view. Other show notes are non-transaction tax related & therefore not for this thread.
Sorry I missed you at the NYC Expo seasideheights. I spent the afternoon shooting 7 video segments in the MoneyShow studios. One segment was entirely on the FTT, RHT and more. Another segment was on the CFTC proposal to drastically reduce forex leverage which is another fight we are working on too. I will mention the FTT in my tax workshop Tues morning at 8 - 9am. It will be Webcasted by the expo too. I will be in our booth #6102 from 10:00 to 6:00 tomorrow. Darren and Adam need to leave around 1pm, so I will hold down the fort. Please come by to say hello and let's compare notes on the FTT then. Wish we could meet others too at our booth to have a meeting about the FTT. Set a time if you like and invite everyone. Hope you are in town tomorrow. Thanks.
I walked RIGHT BY the room with the MoneyShow Studio sign on it but didn't look in. I didn't realize that's where your tapings were being done. They mentioned in your booth that you were doing video shoots, but not that it was for the moneyshow website. I thought you were in another part of the city doing them for some other entity. Talk about so close but so far away.... I left the city already. I'll watch the webcast in the morning.
Liberals continue to push for financial transaction tax ".... Nevertheless advocates are organizing events on Capitol Hill, seeking to generate support for the measure. ...." http://www.marketwatch.com/story/li...al-trades-tax-2010-02-16?reflink=MW_news_stmp
That employee's attitude is in direct conflict with that of his boss: http://www.nasdaq.com/aspx/company-...ceo-proposed-transaction-tax-will-hurt-growth
I_F comment page: comments submitted as of 24 January 2010 - 26. Comments submitted as of 15th February 2010 - none further than the original 26. They did receive more. Puzzling.