It's official: Merkel seeks German F.T.T. at NYSE

Thats fine, I will never route orders to the NYSE.

 

Sorry, for a moment I was unsure whether or not to take you seriously. Thanks for clarifying.

 

No problem, always happy to help the ET socialists dressed in capitalist clothing.

 

That's exactly the point!!!!

The revenue gained from a FTT would not be locked in some "lockbox" for the next financial meltdown. It would be spent gaining votes and political favors regardless. Then we would be right back to where we started.... needing to borrow to pay for whatever bailouts are called for.

There simply is not enough revenue for these greedy, leftist politicians. They will spend as much as they possibly can, via revenue and borrowing. The only way to stop them is to starve the beast.

 

Of course not.

It would first go to paying down the costs of the previous dozen-odd bailouts, the costs of which have amounted to a subsidy from taxpayers to market participants.

We are a long long way to break even on history, once that bill has been paid, then we can worry about a "lock box" for the future.

 

Unless that transaction tax law passes in US, it matters not that Europeans have passed it, we won't be paying it on our NYSE transactions.....

 

Do you seriously think that it would go towards paying down debt? Or even reducing the level of spending? HA!!!

 

If any future german government forces this on the a NYSE/German merged company the regulators in the US can just ban the new NYSE from trading US stocks, remove it's licences etc

And hand the rights to a new US exchange company or an existing exchange like NASDAQ or more likely a smaller existing player to maintain competition.

NYSE will be left with just the iconic building on wall street, do they actually own it or rent it?

 

Yea well done idiot.

 

Thanks Tortoise.

Besides being very active on the FTT thread, I've been commenting in WSJ and FT on every NYSE Deutsche bourse merger article.

I've said it's crazy for NYSE to merge with the German exchange as Germany is hostile to banking, finance and exchanges. Germany will try to use the merger to spread their FTT beyond the euro zone and also over regulate all instruments including derivatives.

This merger is like if Ford wanted to merge with Mercedes just before WWII. The exchanges are too focused on savings, reduced competition, diversification, global reach and bigness. When it comes to Germany and France, run for the rafters, they are falling to socialist forces and have the pitchforks out for banking.