I'm not even convinced that all of those layoffs were really due to "bad acting" tbh, given that their MO is to fire people after like two months if they don't meet their sales targets.
― the last famous person you were surprised to discover was actually (man alive), Wednesday, 21 September 2016 17:08 (seven years ago) link
http://cepr.net/blogs/beat-the-press/the-cost-of-a-financial-transactions-tax-to-retirement-funds
Hawaii Senator Brian Schatz recently introduced a bill proposing a 0.1 percent tax on financial transactions. This means that when people trade a share of stock or a bond, they would pay a tax rate of 0.1 percent ($1 on $1,000), on their trades. According to the Congressional Budget Office, this tax can raise more than $80 billion a year in revenue, somewhat more than the entire annual budget for the food stamp program.Not surprisingly, the financial industry doesn’t like the idea. It has argued that this tax would be a big hit to retirees and pension funds. While it is understandable that the industry would try to raise such fears to protect its profits, its claims have little basis in reality, as a bit of arithmetic can quickly show.
Not surprisingly, the financial industry doesn’t like the idea. It has argued that this tax would be a big hit to retirees and pension funds. While it is understandable that the industry would try to raise such fears to protect its profits, its claims have little basis in reality, as a bit of arithmetic can quickly show.
― Lil' Brexit (Tracer Hand), Sunday, 28 April 2019 14:56 (four years ago) link
um yeah, pension funds and individual 401k holders are probably the least active traders. Not to mention that transaction costs are at all-time lows as it is.
― longtime caller, first time listener (man alive), Monday, 29 April 2019 14:27 (four years ago) link
it's free money to the tune of $80B/year and our political system is so in hock to finance that it won't pick the money up off the ground
― Lil' Brexit (Tracer Hand), Monday, 29 April 2019 15:07 (four years ago) link
https://www.trashberg.com/p/i-think-i-found-jamie-dimons-secret
Jamie Dimon is so boring his secret social media accounts aren’t even horny.
― Joe Bombin (milo z), Wednesday, 28 April 2021 21:01 (two years ago) link
Matt Levine in top form today on the Archegos report:
https://www.bloomberg.com/opinion/articles/2021-07-29/archegos-was-too-busy-for-margin-calls
Everything in the report is like this. This report is not a bunch of lawyers identifying a bunch of problems and characterizing them, in hindsight, as 'red flags.' Everyone saw all the problems here, evaluated them reasonably, came up with sensible solutions and then didn’t do them.
― o. nate, Thursday, 29 July 2021 18:39 (two years ago) link