This will kill the broker-dealers, large and small!
Note that the government’s favored investment device, the derivative is taxed at 1/12 the rate of an honest stock transaction.
Derivatives are the source of our trouble.
Whats wrong with a little marxist philosophy comeing face to face with capitalism? Specially when the marxism is backed by the Government?
Just the beginning of thecorruption and destruction of capital markets, thats all. Nothing to be concerned about.
This should help kill the values of the shares of the “fat cat” corporations.
Welcome to “tombstone”.
Go over the "Investment News", and click on the articles about all this reform and FINRA.
The BD's & RR's are furious.
But all the morons that voted for Zero are going to love Zero's move down the road...
The transfer of their 401(k) etc into a new Gov't Annunity as proposed by Cal (D) Rep. Miller.
This is the nudge that will force people into this paultry investment w/ 3% returns and a built in 50% Death Tax....