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Randoms: Unintended Consequences of The Trading Tax

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Can new plan be more damaging to financials than expected?

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  • It's hard to envision this potential trading tax as a net positive for the financials. That's the thing about unintended consequences-sometimes the result is more damaging than the solution.

  • While Wall Street may be an acceptable casualty of war for those in Washington and on Main Street, let's be careful here. We're already dangerously close to socialism-let's not pass the point of no return, if we haven't already done so.

  • If you want to voice your disapproval of this bill, stand up and be counted against the trading tax? Click here!

  • My single greatest fear for Hoofy? That Boo's downside meander will "end" with a bang rather than a whimper (I say "end" in the context of a bullish phase, not a secular cycle shift).

  • The Big Bang Theory? General Motors (GM)? General Electric (GE)? Eastern European contagion? You got me but I plan to have some dry powder when and if that time arrives.

  • S&P 800 remains an important technical-and psychological-toggle.

  • Speaking of psychology, I think I put my therapist in therapy.

  • "In looking at the slides from Deere's (DE) analyst presentation this morning, I was struck by the following comment regarding the Congressional Dreamliner (a.k.a. the Economic Stimulus package signed yesterday): "Minimal impact in fiscal 2009, majority in 2010 and 2011" I guess "shovel ready" must really mean shovels and not tractors or heavy construction equipment. Better call Dreamliner One back to the terminal. Those passengers are likely to get pretty hungry if take off isn't until 2010." --Minyan Peter on yesterday's Buzz.

  • Come on ride the train! We're building the Minyanville Underground Railroad, a global grid of Minyans who believe there is a better way to do business and our name and word still mean something. If you have an interest in being a Minyan Ambassador-being the Minyan "point" in your region-please let us know!

  • Man, this is getting Biblical and Biblicaler!

  • Bank America (BAC) is off 10% (or, put another way, 45 cents) and Citigroup (C) is down 8% (20 cents). I stopped fading (buying) this complex last week as my internal odds of outright nationalization up-ticked from 10% (post Geithner's comments) to 35% (before Elmer's epiphany).

  • A few Minyans noted that I've been writing with less "me" and are concerned I might be burning out. Well, it's better to burn out than to fade away, right?

  • The point is well taken-and much appreciated-but not to worry. Given the historic juncture, I'm simply fighting the good fight, as we all are, and holding the musket with both hands.

  • Besides, I can always link to my inner monologue and reference Things I've Learned as I attempt to balance (business, trading, Minyanville) Toddo and (regular guy, music loving, still single) Todd.

  • We've all got our "stuff"... but the journey is more enjoyable when it's shared with kind company.

  • You want an alternative train song? Try this one on for size!

  • Professor Smita has swung by MVHQ and she reminds me of the Minyan Mantra: People who are very good at what they do and better at who they are.

  • Fare ye well, friends, and enjoy the orange whip.


R.P.

No positions in stocks mentioned.

Todd Harrison is the founder and Chief Executive Officer of Minyanville. Prior to his current role, Mr. Harrison was President and head trader at a $400 million dollar New York-based hedge fund. Todd welcomes your comments and/or feedback at todd@minyanville.com.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

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