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Bloomberg's transaction tax sets stage for clash with Wall Street clients

Bloomberg's transaction tax sets stage for clash with Wall Street clients

20.2.2020

Bloomberg 's transaction tax sets stage for clash with Wall Street clients

Presidential candidate Michael Bloomberg 's decision to back a tax on trades...

FILE PHOTO: Former New York City Mayor Michael Bloomberg speaks at the Bloomberg Global Business forum in New York, U.S., September 26, 2018. REUTERS/Shannon StapletonA spokeswoman for Bloomberg did not immediately provide comment. Bloomberg, who was a Republican, has said he would sell his eponymous Bloomberg Inc financial data company, whose trading terminal is widely used on Wall Street, if he wins the presidency.

Former Indiana Mayor Pete Buttigieg also lists the tax among his policies, while former Vice President Joe Biden has voiced tentative support.For example, high-speed traders in France experienced a 30% reduction in trading volumes as a result of a 2012 transaction tax, according to a 2017 Journal of Finance study.

Alarmed by its traction, the Securities Industry and Financial Markets Association (SIFMA), the U.S. Chamber of Commerce, and the Modern Markets Initiative (MMI) are lobbying against the tax.“It would be paid by all Americans invested directly or indirectly in the markets and not just the wealthy,” she said in an email.



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Засекретить значит . На вас последний оплот , того , что люди именем демократии сотворили , от краха всей системы. What a nice tie. I think I'll try to find a tie like that. MSNBC POTUS realDonaldTrump No chance of any of the 6 democratic candidates tonight will ever beat President Trump few month from now.“Stumbling “ happened to all of them . Democrats tonight were like a truck running on 6 “flat tires”.

You think THAT'S his biggest problem? Reading such a tax may drive equity market liquidity lower by 50%. So what? He's going to sell the Company anyway Interesting that this came out during the debate while he's getting destroyed DemDebate

Presidential hopeful Bloomberg proposes new taxes, protections to rein in Wall StreetU.S. Democratic presidential candidate Michael Bloomberg on Tuesday outlined a s... Why is everyone talking about Bloomberg? He won't even debate anyone in his own party, he just keeps throwing money everywhere and fighting imaginary battles on Twitter. LOL

This guys not TOUCHING Wall Street, anyone that thinks he is horribly misinformed but please go right ahead, I do a lot on the market lol im not worried at all. Yeah just look this dude on up on Wikipedia his whole life was the market. Seems to me it would be a tax that would barely be felt and bring in lots of revenue. And who would argue the financial services industry doesn’t owe a little payback for the Great Recession?

Not really, cnbc this morning they don’t think it’s as bad as Sanders and others... Trump is starting to scare Wall Street (perfectly happy with Bloomberg). Income inequality is real they know it needs to be addressed and Bloomberg offers a reasonable solution. Bloomberg is a political hack that is the worst of the worst.... hope he wins the Dem Nomination so Trump can step on mini me

Trump 2020 He’s not serious. Ugh... more taxes, a dollar should only be taxed once, at printing. Period. He's just a lying, dog face, pony soldier. Soo... everyone on Wall Street? A transaction tax really makes sense for those who buy and sell and hold for less then say a week. Need to get the days traders out of the market. What is their purpose.

U.S. Democratic presidential hopeful Bloomberg unveils plan to rein in Wall StreetU.S. Democratic presidential candidate Michael Bloomberg on Tuesday outlined a s... He's already a billionaire, what does he care? This guy huh? I believe the expression is ‘get fucked’. that means he wont b making all that money anymore

That there is the man i trust least over any Dem on stage. He is absolutely full of shit on taking wall street to task Someone told me that the DNC is changing the rules so that only multi-billionaires will be allowed on the debate stage tonight. Kill the markets..... just nonsense refill your meds, Mike

I doubt he cares. He wants to eliminate Trump so badly he'd spend his last $100. This would hurt the small independent trader more then anything. So many other things they can do Bernie Sanders' transaction tax is 5X higher!!! I'm sure Bloomberg's wall street buddies would be happy that he tries to save them money.

This Transaction Tax is going to do some serious damage to markets and ultimately the economy as GDP is closely tied to markets. No matter who implements it, it's long overdue.

Michael Bloomberg Leans Left With Plan to Rein In Wall StreetMichael Bloomberg unveiled a plan to regulate Wall Street on Tuesday, including a proposed tax on financial transactions that his rivals Pete Buttigieg, Bernie Sanders and Elizabeth Warren have all embraced I think it's obvious he'll say whatever he has to to be elected and once he's in office pivot and be a straight-up Republican So why not vote for someone who actually will do something BernieSanders

Bloomberg throws Wall Street under campaign busThe financial-data mogul’s plan to curb his top clients if he becomes U.S. president preempts criticism he’s too close to them, and his status makes ideas like a transaction tax credible. But Bloomberg probably won’t push it beyond the minimum needed for Democratic acceptance. ReutersBiz johnsfoley It throwing the proprietary data under the bus🙄 Open information, transparency, and easily accessible earnings reports are the necessary for a fair-market system. Trump and Warren are too stupid to ever even touch this issue Reuters johnsfoley Go Home Mike you drunk

Bloomberg Financial Regulation Would Stiffen Wall Street OversightMichael Bloomberg unveiled a raft of proposals to strengthen oversight of lenders and protect consumers, a move that positions the billionaire former New York City mayor closer to the rest of the Democratic presidential field. bloomberg is the exact type of oligarch this country needs to rid itself of Lmao he has over a billion dollars so I’m gonna go out on a limb and say he’s gonna have a hard time distancing himself from wall street Be honest: did he pay for this?

Bloomberg Gets Tough On Wall Street With Proposals That Echo Progressive Rivals’ PlansWhile it doesn’t go quite as far as those of his more progressive rivals, Bloomberg ’s financial regulatory proposals show a Democratic candidate willing to lean further left than perhaps was expected. skleb1234 But he gets to keep his 50 billion right skleb1234 Mike2020 skleb1234 Mike has a lot of plans. Bad ones.



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