Financial speculation tax

[cutforscience]

it's just not the service where you get to hump something like someone who never had a woman in his lifetime.

 

[Acanthus]

Bwaahahahahahaha, you can't possibly be serious?

Options actually reduce volatility and allow for hedging, among their many other uses. 1 trade per day, wow, you know absolutely nothing about Wall St. Let's go back to paper tickets and late 19th century volumes while we're at it too.

Other nations with strong markets seem to do fine with this rule in place.

I did not, at any point, say that options are bad.

 

[Darwin333]

I think in a crisis on wallstreet one of the biggest problems we have is trading firms that use large supercomputer that can process thousands of trades a minute. They can design computer programs that make trades so fast and trade such huge sums of money manye times a second every time the the stock prives moves. So the government should try to stop some of this by requiring a $1.00 tax on every stock trade. That way at least the government will be getting a piece of the pie, and this will take away some of the high speed advantages.

They could add a $.05 tax on every non-executed trade over a thousand a day or so and cut this bullshit out. That wouldn't touch anyone other than HFT in any way and even if you went over the threshold once or twice it would be a negligible cost. By design the majority of offers HFT computers make are not executed, that is how the game works, so they would basically be put out of the cheating game (at least this one).

Unfortunately, the government has not and they will not.

 

[Darwin333]

they produce services, which they can sell to anyone.

Please do not make me copy and paste the definition of exact, it isn't a big word. Your answer to my "exactly what do they produce" is so vague that it can literally fit drug dealers, the mob, and Betty Crocker at the same time.

 

[spittledip]

i didn't say you did

i just don't think it is the best solution

we should just make them pay when they fuck the economy

If you mean let capitalism run its natural course, i.e. we shouldn't have bailed the turds out, then I am in total agreement with you.

Nothing creates learning like natural consequences. Sure, it would have hurt us for the time being, but we would be better off for it in the long run.

 

[cutforscience]

they sell financial service, not the kind of financial service that let's you open a business that let's you hump something all day long.

 

[cutforscience]

If you mean let capitalism run its natural course, i.e. we shouldn't have bailed the turds out, then I am in total agreement with you.

Nothing creates learning like natural consequences. Sure, it would have hurt us for the time being, but we would be better off for it in the long run.

if people lose everything then good, they can come to me so i can hump them if they are that desperate for money

 

[Acanthus]

The ban is strong with this one.

 

[cutforscience]

What? a bad sense of humor is not allowed here? Is this the People's Republic of China?

 

[Darwin333]

Easy credit was the main cause of the crisis. People were seeing the price of their home rise because more idiots could afford to buy one with the creation of the subprime mortgages and then BOOOOOOOOOOOOOOOOOOOM. Yeah, it wasn't rocket science at all.

Soooooo, it had nothing to do with the selling of those idiots loans under false premise whatsoever? Last I checked it was the entire MBS thing (made up of those dumb fucks loans that most nondumbfucks could see would eventually detonate so they made them uber-complex and sold them to the "big boys" which includes governments)that almost caused dogs and cats to live together. The problem is not and never has been simply people defaulting on their loans. That would have been an easily manageable problem. When you throw a fuckton of leverage on top of a fuckload of those loans, not so much.

No it isn't rocket science it is mathematics but you obviously haven't figured it out anyway.

 

[Darwin333]

they sell financial service, not the kind of financial service that let's you open a business that let's you hump something all day long.

In other words, you have no fucking idea. Thanks for playing though.

 

[cutforscience]

Those MBS could not have exploded if they didn't lent to the poor people, genius.

 

[Darwin333]

What? a bad sense of humor is not allowed here? Is this the People's Republic of China?

Naw, you will fit right in.

 

[cutforscience]

they sell mbs like you said, that's a financial product

 

[theeedude]

There should be a Wall Street tax until AIG bailout is repaid.

 

[Darwin333]

Those MBS could not have exploded if they didn't lent to the poor people, genius.

Thank you for proving my point, who was it that lent to those poor people again? Who was it that packaged the loans up again? Who was it that got them rated as AAA almost guaranteed never to lose money investments again? Who was it that bet that they were in fact shit while they sold them as AAA rated investments again? Who was it that leveraged that shit with their own money to make the "explosion" 20 or 30 times worse again? With your obviously advanced math skills, what would an explosion 10, 20, or 30 times smaller have been like compared to what we experienced?

The only person making me look like a genius is you.

 

[cutforscience]

the banks are stupid

that's why its the federal reserve's fault

 

[Anarchist420]

This is an awful idea IMO. It will divert attention from the true problem, which is FRB and legal tender. The government should have an Indepedent Subtreasury System, prohibit FRB, and collect taxes only in gold/silver/platinum/palladium.

 

[Darwin333]

they sell mbs like you said, that's a financial product

So your answer is "they cost our economy more then pretty much every illegal activity combined via fraudulent activity"? Foe real dawg?

Why don't you take a few and think about your next answer.

 

[cutforscience]

there would have been a major financial crisis even without the MBS, since i think major buyers were other banks often foreign and private international investors.

 

[Darwin333]

there would have been a major financial crisis even without the MBS, since i think major buyers were other banks often foreign and private international investors.

What other bullshit product would they have leveraged up to their eyes with and caused a worldwide financial fubar? Oooh, lemme guess, something that the great service providing financial sector came up with?

I am done educating you kid, have a good night.

 

[brencat]

cutforscience... up to 50+ posts already with 4 active threads, plenty of 1 sentence nonsensical answers, and a join date likely today. At this rate, he'll be a diamond member by next Friday.

 

[cutforscience]

What other bullshit product would they have leveraged up to their eyes with and caused a worldwide financial fubar? Oooh, lemme guess, something that the great service providing financial sector came up with?

I am done educating you kid, have a good night.

like every bank sold subprime mortgages, but yeah selling those mbs allowed them to sell even more subprime mortgages.

 

[Engineer]

cutforscience... up to 50+ posts already with 4 active threads, plenty of 1 sentence nonsensical answers, and a join date likely today. At this rate, he'll be a banned member by next Friday.

:hmm::whiste:

 

[cutforscience]

ever heard of dynamic ip?