Tag Archives: Republicans

Will Obama be a lame duck president after Republicans with the House?

Will Obama be a lame duck president after Republicans with the House?

Let me know, I would be interested to hear what you think. Comment below:

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Is it possible High frequency trading will not regulated if Republicans win?

Is it possible High frequency trading will not regulated if Republicans win?
This was an interesting article posted over at Bloomberg. Here are some highlights:
While the law is widely criticized by the industry, Republican gains in the November election won’t be large enough to override a veto by President Barack Obama.
A Republican takeover would mean the banking industry “will have an active voice on the Hill, trying to influence the direction of regulatory agencies,”
“The oversight process, grilling agency officials, that’s a big deal that shouldn’t be underestimated.”
More than a dozen lobbyists, lawyers and officials at large banks, hedge funds and Wall Street trade associations discussed in interviews the shape of the banking industry’s legislative agenda.
Most executives said the industry would welcome a divided government, because that would make it difficult to pass any new financial laws.
If Republicans take over the House, banks will try to stop the push for a tax or fee on the biggest financial companies — which has been threatened by Democrats to help pay for the $700 billion bailout, implementing the regulatory law and other initiatives.
Hedge and private equity funds also hope to derail the Democrats’ plan to raise taxes on investment profits known as carried interest. General partners at the funds can now qualify for capital gains tax treatment on their pay derived from investment profits, which is lower than the income tax rate.
Republican members of the House Financial Services Committee, wrote on Aug. 24 to Securities and Exchange Commission Chairman Mary Schapiro, advising her to get a better understanding of what caused the crash before “assigning blame to algorithmic or high-frequency trading firms.”
“For two and a half years, it’s been tar and feather,” Hirschmann said. “They are just hoping for an environment where the impact on the broader economy is at least considered” in setting policy.
“It’s clear that if Republicans are handed back the keys, it’s going to be big Wall Street banks that are going to be driving the car,”
http://www.bloomberg.com/news/2010-09-14/wall-street-banking-on-republicans-to-push-legislative-goals.html?goback=.gde_2107793_member_29604876

HOW DO YOU START A PROFITABLE TRADING BUSINESS? Read more NOW >>>

NOTE I now post my TRADING ALERTS into my personal FACEBOOK ACCOUNT and TWITTER. Don't worry as I don't post stupid cat videos or what I eat!