Study: High Frequency Trading Robs From Smaller Investors

By: Tuesday December 4, 2012 10:45 am

A new study confirms that high frequency trading, which already has declined in terms of its yield if not its use, endangers investors and basically turns stock markets into automated casinos where the average Joe can do little but get hurt. The chief economist at the Commodity Futures Trading Commission, Andrei Kirilenko, reports in a [...]

High Frequency Trading Can Be Curtailed Simply With a Transaction Tax

By: Thursday October 18, 2012 7:45 am

The stock market has become a war between algorithm-based robots, a war for speed where the winners trade 10 microseconds faster than the losers. But all sides of this war have armed themselves so well, have reduced the timing of trades so much, that high frequency trading no longer makes much money. Now it appears [...]

European Leaders Propose Small Stimulus Package

By: Friday June 22, 2012 12:17 pm

I mentioned earlier that the “Big 4″ leaders – of Germany, France, Italy and Spain – were meeting today in advance of a big EU summit next week. That meeting has adjourned, and the leaders announced they would push for a stimulus package of 130 billion euros. But even the initial reports of this shows [...]

Robin Hood Tax Campaign Comes to the US

By: Tuesday June 19, 2012 1:41 pm

Kacey Dreamer reports on the resumption of a movement to tax financial transactions, with some high-profile supporters. In the past certain progressive organizations had a financial transaction tax as part of their overall strategy, but they did not have a campaign specifically designed around it. That’s the difference with the current Robin Hood Tax campaign, [...]

The One Demand: Hire People to Do Stuff

By: Wednesday October 19, 2011 6:23 am

The idea that a diverse global movement would settle on a singular idea on which to move forward isn’t very realistic. The Tea Party never had to do it outside of a bumper sticker like “smaller government.” But the Demands working group at Zuccotti Park is working around to that one demand, and not surprisingly, [...]

Trumka Draws Fine Line Between Supporting and Usurping #OcupyWallStreet Protests

By: Wednesday October 5, 2011 8:15 am

Members of the political elite have finally had to confront the question of the #OccupyWallStreet protests and the larger movement for social and economic change that it represents. Sen. Jeff Merkley agreed with the goals of the protesters and their belief that the system is broken, and expressed interest in going to a protest. Ron [...]

EU Proposes Financial Transaction Tax

By: Wednesday September 28, 2011 8:15 am

It’s clear that European policymakers are bumbling around, mainly because they don’t want to do the only steps that would actually work to end the crisis. Martin Feldstein, the conservative economist, basically gets this right in an op-ed today. It’s not a debt crisis, it’s a banking crisis. And in a larger sense, it’s a [...]

Schumer’s Ideas: One Awful, One Excellent

By: Monday May 9, 2011 10:42 am

It’s Chuck Schumer Day here at FDL News Desk. Schumer, in addition to smack-talking John Boehner on the debt limit, came out with two policy ideas over the weekend, one abominable and one that has quite a bit of merit. See if you can guess which one got more attention. The abominable one, of course, [...]

Flash Crash Panel Recommends Financial Transaction Tax

By: Monday February 21, 2011 6:31 am

It would have been easy to miss this the past few days, given everything going on. But are you aware that a panel of experts basically said regulators should consider a financial transaction tax, as the only way to stop another “flash crash” caused in part by high-frequency trading? Regulators should stem the growing tide [...]

The Antidote to Deficit Hysteria – the Financial Transactions Tax

By: Monday January 24, 2011 2:12 pm

We’re headed into the deficit debate, and one attractive idea has been left on the sidelines – the notion of a financial transactions tax. Most of our stock transactions these days come out of a computer. They offer nothing of value to the public, enhance risk and feed a desire for more dangerous bets that [...]

Wall Street, White House Admit: Financial Industry Unchanged By Reform Bill

By: Monday May 24, 2010 3:23 pm

One of Wall Street’s finest slipped and told the New York Times that the financial reform bill wouldn’t affect their core business to any major degree. Many executives spent the weekend trying to assess the impact of the legislation, which has yet to take final form. With some crucial differences between the House and Senate [...]

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