Access to banking services?
Would that include forcing PayPal and Visa to support gun companies and companies that support republicans?
This guy is a narcissistic control freak and he will use the climate BS to ruin our lives.
Completely outrageous. You sell a stock - you lose 0.1% of the total value, then you but a stock losing another 0.1% of the total value for 0.2% on each round-trip. Then you pay SEC taxes on each sale, and capital gains if you somehow make a profit. Frequent traders cannot sustain this level of taxation and will go away. That is enough to dry up market liquidity.
The real problem is, though, that they'd be raising it every time a new line of BS like the climate lie comes along for them to call a crisis that must be faced or we'll all die. So, reasonable in a nation where the government looks out for the average folks but unreasonable in a nation where the government looks out for the government.
JMHo
Notice they are all for regulating people making money totally out of existence but do NOTHING to stop crime and enemy attacks.
The left-leaning platform marks a striking turnaround for the former Republican New York mayor who made his $60 billion fortune in financial services and who in the past has criticized reforms introduced following the 2007-2009 financial cris
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in his own way, bloomberg is proving to be as much of a gaff machine as quid pro joe, hisself.
bloomer made his fortune off his disruptive financial market monitoring packaging.
it was revolutionary in that it had real time market quotes on stocks & bonds along with analytical tools and news feeds that were basically available to the mass markets.
prior to bloomberg’s innovation, only the top shelf investment banks had anywhere near the information technology of the “Bloomberg” capabilities
this is biting the hand that feeds you on steroids
His software, magazine, all made from subscription/recurring revenue, that of a capitalist nature...one would think he would understand profit from capitalism. No, he made his $$$ from controlling things, payoffs, greased palms...I have watched Bloomberg TV, it is like BBC/NPR and is way leftist.
He really is a horrible human being.
The Left is so blind right now, I’d wager most of them don’t believe Bloomberg said the things he said, but rather that Trump made them up and it is a conspiracy, a la, how Clinton always says right wing conspiracy.
All I see is little mikey saying I’ve got my $60 billion and I’m in control. If he feels guilty about that let him write a check.
Eff You guys. I’ve got mine!
The second this goes into effect all such trading will move off shore.
He is doing this to create a barrier to the accumulation of wealth. The American people had better pay attention. This is an evil evil evil son of a bitch.
Bloomberg is more ignorant today than when he was Mayor of NYC.
“Among the most eye-catching proposals is a tax of 0.1% on transactions in stocks, bonds and payments on derivative contracts, bolstering the “Volcker Rule” ban on proprietary trading, and setting a trading speed limit - all of which take aim at Wall Street clients of Bloomberg Inc’s trading terminal.”
The majority of stock holders and trading in stocks today is not done by individuals for themselves. Institutional investors - insurance companies, pension funds, mutual investment funds, ect - comprise the majority of both stocks held and trades on Wall Street today. It is those institutions (their pensioners, insured persons, and those investing for or in retirement) not billionaire fat cats that will have to absorb the stupid 0.1% tax.
Who's next to insult?
Basically, the tax would kill day trading profits that has heavy daily volume turnover.
What, prey tell, is wrong with Wall Street? Bloomberg is a windbag!
Are you watching this guy.. AG of Virginia.. Morrisey... said bloomburg’s people are running the justice dept.. he is running things with unelected persons.. with his money.