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LQD: Tax Wall Street's Speed Freaks into Oblivion | 29 comments (29 topical, editorial, 0 hidden)
Re: LQD: [...] (none / 1)
Simple. You cannot legally change ownership of anything that is traded on an exchange without notifying the exchange and paying the Tobin Tax.

Exchanges? Who needs exchanges?

Where's the exchange in the world of FX?

Exchange trading would disappear into "dark pools" of liquidity in five minutes. A lot already has.

"The future is already here -- it's just not very evenly distributed" William Gibson

by ChrisCook (cojockathotmaildotcom) on Fri Jul 31st, 2009 at 07:10:20 AM EST
[ Parent ]
Re: LQD: [...] (none / 0)
Where's the exchange in the world of FX?

Basel.

It's not a very effective exchange, as a number of SE Asian countries will attest, but it's there.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Fri Jul 31st, 2009 at 07:24:55 AM EST
[ Parent ]
Re: LQD: [...] (none / 1)
Basel??

CLS Bank is the closest thing there is and it's not even remotely possible to operate at the requisite level of granularity.

There is not a cat in hell's chance of a Tobin Tax without a new clearing network created - or evolving - from the ground up.

"The future is already here -- it's just not very evenly distributed" William Gibson

by ChrisCook (cojockathotmaildotcom) on Fri Jul 31st, 2009 at 07:40:14 AM EST
[ Parent ]
Re: LQD: [...] (none / 1)
Because existing exchanges would resist?  Because capital would flee to "dark pools" and engage in legally unenforceable transactions?  Well, various mafia's do seem to be able to do business, but...

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Fri Jul 31st, 2009 at 01:49:07 PM EST
[ Parent ]

LQD: Tax Wall Street's Speed Freaks into Oblivion | 29 comments (29 topical, 0 editorial, 0 hidden)
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