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Joe Chi Minh Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Dec-05-09 01:33 PM
Response to Reply #61
78. LOL to the power of n!
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  -Geithner Dismisses Tax on Financial Transactions as Unworkable depakid  Dec-05-09 02:55 AM   #0 
  - Obama better do something fast. Dems as the Party of Wall Street is becoming  tblue   Dec-05-09 03:00 AM   #1 
  - We HAD such a tax  CanonRay   Dec-05-09 08:38 AM   #33 
  - Can't do it? I bet if it was a FEE FOR the Corporate parasites it would be up running and  Vincardog   Dec-05-09 01:46 PM   #81 
  - Translaton: Goldman Sachs pay taxes? That's for little people!  SandWalker1984   Dec-05-09 10:21 AM   #46 
  - so we got one end of the Obama Guru team telling us we don't need social security & the other end  Divine Discontent   Dec-05-09 03:50 AM   #2 
  - By that logic there should be no taxes because some people will find a way around them  laughingliberal   Dec-05-09 07:10 PM   #99 
     - Or you could just not pay all you owe, like Geithner - head of the IRS!  change_notfinetuning   Dec-05-09 09:44 PM   #102 
        - Now, there's a thought. Course we know that only works for the rich. The middle class has been  laughingliberal   Dec-05-09 09:54 PM   #105 
  - Really? How would you advise Firms to "get around any tax like that."  Ghost Dog   Dec-05-09 04:21 AM   #3 
  - The markets will all just move to Dubai.  naaman fletcher   Dec-05-09 11:35 AM   #61 
     - Or to a Caribean country  proud2BlibKansan   Dec-05-09 12:04 PM   #67 
     - Right. You can see lots of folks betting their pensions  Ghost Dog   Dec-05-09 12:09 PM   #68 
     - LOL to the power of n!  Joe Chi Minh   Dec-05-09 01:33 PM   #78 
     - That haven of financial responsibility and stability?  Alcibiades   Dec-05-09 10:03 PM   #106 
  - And yet, commissions on those transactions are workable?  aquart   Dec-05-09 04:25 AM   #4 
  - commissions in trading algos that banks let their customer use  Lucky Luciano   Dec-05-09 08:38 AM   #32 
  - Of course volume. The small tax is designed to...  WhaTHellsgoingonhere   Dec-05-09 10:42 AM   #47 
  - Yes but it won't hurt the big guys, it will give them more power..  naaman fletcher   Dec-05-09 11:33 AM   #60 
  - New regulatory policies will be essential. If your point is that...  WhaTHellsgoingonhere   Dec-05-09 03:08 PM   #85 
  - Well, we will not see eye to eye. Too biased given my prop trading background. Nt  Lucky Luciano   Dec-05-09 01:39 PM   #79 
  - I don't know about hurting liquidity but it would slow down this  ThomThom   Dec-05-09 10:49 AM   #50 
     - Yes, a Tobin tax would hurt HFT..  girl gone mad   Dec-05-09 04:25 PM   #89 
  - Exactly. My thought exactly. n/t  Tansy_Gold   Dec-05-09 08:38 AM   #34 
  - If Geithner is already trying to kill it  waronbanks   Dec-05-09 04:38 AM   #5 
  - yes & get rid of ceo positions, they exist at Congress' pleasure  KakistocracyHater   Dec-05-09 07:35 PM   #100 
  - Possible silver lining...  dreamnightwind   Dec-05-09 04:59 AM   #6 
  - Oh, gee, Making the banks/investment firms to pay for the regulators to watch them  Roland99   Dec-05-09 05:44 AM   #7 
  - Zactly. nt  Enthusiast   Dec-05-09 08:16 AM   #22 
  - Motives aside  nod factor   Dec-05-09 06:19 AM   #8 
  - A lot of what these transactions do...  Cassandra   Dec-05-09 07:15 AM   #12 
  - Exactly. Such a tax would discourage,  Ghost Dog   Dec-05-09 07:50 AM   #17 
  - You are right.  nod factor   Dec-05-09 08:00 AM   #20 
  - Yes, and this gambling is killing the real economy.  mbperrin   Dec-05-09 08:44 AM   #35 
  - ....but, but..... this is timmy  unabelladonna   Dec-05-09 03:11 PM   #86 
  - That speculation is ok. Stocks are liquid instruments.  Lucky Luciano   Dec-05-09 08:44 AM   #36 
     - Could traders avoid the tax by trading outside the U.S.?  JDPriestly   Dec-05-09 10:59 AM   #53 
        - The proposal is to levy much the same tax in London, Europe,  Ghost Dog   Dec-05-09 12:17 PM   #70 
           - Good. It would work if that is the case. But it would  JDPriestly   Dec-05-09 05:28 PM   #95 
  - "A transaction tax is retrogressive." ???  depakid   Dec-05-09 07:56 AM   #19 
  - Timmy, is that you?  Jim Sagle   Dec-05-09 08:34 AM   #27 
  - It's really not though...  Chan790   Dec-05-09 08:35 AM   #28 
  - ummmmm 0.25% is a huge tax - commissions these days,  Lucky Luciano   Dec-05-09 08:49 AM   #37 
  - Yes, I understand the proposal is more in the order of 0.025%  Ghost Dog   Dec-05-09 09:54 AM   #41 
  - Okay.  Chan790   Dec-05-09 10:44 AM   #49 
  - more regulation is ok, but it should be directed at illiquid  Lucky Luciano   Dec-05-09 03:35 PM   #87 
     - Hmmm. So, without the, er, robot (algorithmic) trades these days, liquidity,  Ghost Dog   Dec-05-09 04:18 PM   #88 
        - An example might be that I could buy 10k shares of AAPL  Lucky Luciano   Dec-05-09 05:25 PM   #93 
           - Would significantly reflect a human judgement of the real world value  Ghost Dog   Dec-05-09 05:47 PM   #96 
           - But would this really hinder the ability of companies like Apple  Telly Savalas   Dec-05-09 09:47 PM   #103 
  - A penny a share.  westerebus   Dec-05-09 12:14 PM   #69 
  - This potentially affects several hundred thousand trades a second.  boppers   Dec-05-09 01:02 PM   #75 
     - have high frequency experience... It is soooooo not that simple  Lucky Luciano   Dec-05-09 01:48 PM   #82 
     - I tried to keep it *very* simple, yes, with only two actors (one human, one machine)...  boppers   Dec-05-09 05:25 PM   #94 
     - The bottom line is that this is unproductive, market distorting behavior  depakid   Dec-05-09 02:08 PM   #84 
  - We need to encourage long term investment not this craziness  ThomThom   Dec-05-09 10:59 AM   #51 
  - It does not discourage investment.  dhpgetsit   Dec-05-09 11:57 AM   #63 
  - policy should encourage work and consumer spending.....  Prospero1   Dec-05-09 12:50 PM   #73 
  - When will BO realize that Geithner is a political liability that may help make him a one termer?  FreeStateDemocrat   Dec-05-09 06:28 AM   #9 
  - His nomination  nod factor   Dec-05-09 06:41 AM   #10 
     - "A politically savvy guy like Obama"  Dr.Phool   Dec-05-09 08:11 AM   #21 
  - Transactions are electronic. They can be taxed as they are being made.  IndianaGreen   Dec-05-09 06:56 AM   #11 
  - If Geithner opposes it, that's a big mark in it's favor.  baldguy   Dec-05-09 07:22 AM   #13 
  - I like the way you think. nt  Enthusiast   Dec-05-09 08:20 AM   #23 
  - Should always do the opposite of what Geitner advises.Just don't let him know that that's what you  Algorem   Dec-05-09 07:23 AM   #14 
  - Nothing I love better than response posts which say  placton   Dec-05-09 07:34 AM   #15 
  - He doesn't seem to WANT a 2nd term. That would just delay his plush gig at Goldman Sachs..  Jim Sagle   Dec-05-09 08:37 AM   #30 
  - Placton, What you said exactly x100000- O is a corporate whore  aaronbav   Dec-05-09 11:22 AM   #57 
  - why am i not surprised?  unabelladonna   Dec-05-09 07:40 AM   #16 
  - So, let's just find another way of taxing the middle class, is that it Tim?  DailyGrind51   Dec-05-09 07:55 AM   #18 
  - OF COURSE Geithner doesn't want a transaction tax....  lib2DaBone   Dec-05-09 08:22 AM   # 
  - hopefully we can nominate someone different  ThomThom   Dec-05-09 11:07 AM   #56 
  - Geithner's plans are unworkable.  existentialist   Dec-05-09 08:22 AM   #24 
  - Clearly I have to stop reading the news again for a while  shadowknows69   Dec-05-09 08:24 AM   #25 
  - Hey, coming from you, shadowknower, that remark  Ghost Dog   Dec-05-09 10:06 AM   #42 
  - I guess Timmy should know about getting around paying taxes  Bluenorthwest   Dec-05-09 08:24 AM   #26 
  - Transaction "fees" on individuals and businesses don't seem to pose a problem.  54anickel   Dec-05-09 08:35 AM   #29 
  - Nah, your government doesn't need 'profit' (on the books):  Ghost Dog   Dec-05-09 10:10 AM   #44 
  - It would be nice if he proposed an alternative, then.  adamuu   Dec-05-09 08:37 AM   #31 
  - How about dismissing Geithner as unworkable. /nt  Festivito   Dec-05-09 09:02 AM   #38 
  - Hey haters: Stop with the Geithner bashing already.  MannyGoldstein   Dec-05-09 09:26 AM   #39 
  - It seems that, like other alumni of Goldman Sachs, Timmy's been a beneficiary  Joe Chi Minh   Dec-05-09 01:41 PM   #80 
  - A mimimal tax on wall street transactions needs  pjt7   Dec-05-09 09:29 AM   #40 
  - Why am I not surprised? n/t  SlowDownFast   Dec-05-09 10:08 AM   #43 
  - Geithner is wrong about pretty much everything. He MUST go.  AzDar   Dec-05-09 10:16 AM   #45 
  - he MUST go! agreed. I cannot support a president who has these horrible pro-wall st. pro-insurance  Divine Discontent   Dec-05-09 11:30 AM   #59 
  - unworkable?  ThomThom   Dec-05-09 10:44 AM   #48 
  - The Executive Branch doesn't tax, the Legislative Branch does  BumRushDaShow   Dec-05-09 10:59 AM   #52 
  - OK, Timmy, how about this for a deal.  StreetKnowledge   Dec-05-09 11:01 AM   #54 
  - Wash your mouth out with soap and water, this instant! Why that'd be class-warfare.  Joe Chi Minh   Dec-05-09 06:20 PM   #98 
  - They seem to have no problem siphoning off their bonuses  Canuckistanian   Dec-05-09 11:03 AM   #55 
  - So how do local governments collect a sales tax on everything you buy?  nonationbuilding   Dec-05-09 11:25 AM   #58 
  - I'm urging my rep to support it.  dhpgetsit   Dec-05-09 11:49 AM   #62 
  - Stupid excuses  sfnative   Dec-05-09 11:58 AM   #64 
  - Timmy Lies  colsohlibgal   Dec-05-09 11:58 AM   #65 
  - Geithner is Full of Bull!  Daphne08   Dec-05-09 12:00 PM   #66 
  - K&R. //nt  Overseas   Dec-05-09 12:23 PM   #71 
  - So the Obama administration is trying to kill this idea.  Better Believe It   Dec-05-09 12:47 PM   #72 
  - Well, then. It must be a really viable way to leverage a lien on the corruption within the market.  HCE SuiGeneris   Dec-05-09 12:56 PM   #74 
  - Mustn't tax the rich, the masses be damned! nt  valerief   Dec-05-09 01:18 PM   #76 
  - Treasury Secretary, Timothy Geitner...... said banks and other market participants  Joe Chi Minh   Dec-05-09 01:32 PM   #77 
  - Pour encourager les autres.  Ghost Dog   Dec-05-09 04:46 PM   #90 
     - Mais, bien sur!  Joe Chi Minh   Dec-05-09 06:10 PM   #97 
  - Timmy is always right. I trust him and his marvelous economic team.  neshanic still   Dec-05-09 01:49 PM   #83 
  - Honestly, I didn't think my opinion of Obama's financial picks could get worse,  Better Today   Dec-05-09 05:01 PM   #91 
  - And then he makes no attempt to come up with an alternative. He's not trustworthy. (nt)  w4rma   Dec-05-09 05:04 PM   #92 
  - Well IF he ",has not seen the version of that that he think works",,  benld74   Dec-05-09 09:25 PM   #101 
  - Geithner should never have been hired. He's largely responsible for the crash  autorank   Dec-05-09 09:51 PM   #104 
  - Tee hee... Good one!  Joe Chi Minh   Dec-06-09 05:14 PM   #111 
  - As far as I'm concerned...  femrap   Dec-05-09 10:59 PM   #107 
  - "Can't implement a tax. People might get around it."  BobTheSubgenius   Dec-06-09 12:08 AM   #108 
  - Every body tries to get around taxes and yet they still have an Income Tax...  WCGreen   Dec-06-09 12:12 AM   #109 
  - the only quarrel I had with that tax is it wasn't high enough.  yurbud   Dec-06-09 12:27 PM   #110 

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