Empty Anti-Wall Street Rhetoric

Empty Anti-Wall Street Rhetoric

All those political campaign ads flooding our airwaves are hitting on dozens of different targets. One particularly: Wall Street. Between mid-April and mid-September, Ad Age reports, $1 out of every $10 spent on campaign ads has blasted Wall Street bankers. And these...
European Victory on Taxing Speculation

European Victory on Taxing Speculation

Cross-Posted with the Huffington Post European campaigners for a financial transaction tax have done some awfully goofy things over the past three years. At one French demonstration, they stripped down to their skivvies to emphasize the small size of the tax (0.1% on...
Shameless Tax Loopholes

Shameless Tax Loopholes

Don’t just hang Your head and moan, Buy a loophole Of your own. One intriguing aspect of today’s taxation debate is that it’s so shameless. Republican leaders aren’t embarrassed in the slightest to shill for the rich. Consider this gem from...
The Robin Hood Tax

The Robin Hood Tax

I spent 22 years in the financial services business. Beginning in the 1980s, I worked at exchanges where we traded everything from futures on soybeans to shares of stock to options on interest rates. During these boom years for the U.S. and global financial markets,...
Wall Street’s Speed Freaks

Wall Street’s Speed Freaks

The power suits making billions off the stock market are always trying to assure us that their trading serves a socially redeeming purpose. They steer money to companies and industries that make our economy more productive, they claim. In reality, the majority of...