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Guest Post: 2016 Wishes - A President Who Doesn't Kiss Wall Street's Rear-End

Tyler Durden's picture




 

Submitted by Charles Hugh-Smith of OfTwoMinds blog,

Is there any hope that we might actually elect a president with the mandate and courage to take down Wall Street instead of kissing its rear end in humiliating obeisance?

The 2016 presidential election may be far away to those obsessed with the news cycle, but it's not too early to express one single hope: that we finally elect a president who doesn't kiss Wall Street's rear end every single day for four/eight years running. It's not difficult, folks; it's either/or. Either the President is willing to take down Wall Street or he/she is kissing Wall Street's rear end. There is no middle ground.

Either the next president issues an executive order (or whatever it takes) to enact these four administrative rules, or he/she is kissing Wall Street's rear end every single day of his/her administration.

1. Every position in any tradable security or financial instrument must be held for a minimum of one minute.

2. A transaction fee payable to the U.S. Treasury will be levied on every order when placed, regardless of whether it executes or not or if it is cancelled, of all tradable securities and financial instruments, including those privately exchanged: $1 for every transaction of less than $100,000 in value, $10 for every trade over $100,000 but less than $1 million, $100 for every trade over $1 million but less than $10 million, and $1,000 for every trade over $10 million.

3. All tradable securities and financial instruments must be marked to market at the close of every trading day. This includes derivatives, credit default swaps, mortgage-backed securities, etc.

4. All transactions must be transacted on public exchanges with a transparent bid/ask.

Order the F.B.I., SEC and other law enforcement agencies of the Federal government to prioritize enforcement of all existing securities and banking regulations.

Just four easy-to-understand simple rules. Without these rules, Wall Street remains the Monster Id of American ambition, a vast legal looting machine parasitically sucking the U.S. economy dry and distorting not just financial markets but the political process and the incentives and values that motivate every participant.

Here's a brief history of the past two presidencies. The chickens finally came home to roost for Wall Street and the banks in 2008, and President Bush had a golden, once-in-a-lifetime opportunity to expose Wall Street and the banks to real capitalism, i.e. you're insolvent, you go bust, your assets are auctioned off.

Instead, he obediently bent down and kissed Wall Street's rear end, approving trillions of dollars of taxpayer-funded bailouts. Oh dearie-dear, the ATMs might not work? Really? Then why does the FDIC have the power to take over busted banks and keep them operating while their assets are liquidated in an orderly fashion?

It was never about debt-serfs not being able to get cash from ATMs. It was always about saving the gargantuan fortunes of financier skimmers, scammers, parasites and predators.

President Obama entered office with a mandate to take down Wall Street and the Too Big to Fail banks. He also refused to expose Wall Street and the banks to real capitalism. He too has bent down and kissed Wall Street's rear end every day of his presidency.

It's not complicated, people. Either enact these four simple rules or remain on your knees kissing Wall Street's rear end. Either the parasites and predators have a free hand, and the incentives for corruption and legal looting remain firmly in place, or Wall Street is taken down by enforcing four simple rules--rules that have no impact on legitimate, productive companies and investors in those companies. These four rules would only impact financier skimmers, scammers, parasites and predators.

Is there any hope that we might actually elect a president with the mandate and courage to take down Wall Street instead of kissing its rear end in humiliating obeisance? The only way such a miracle could occur is if the voters demand it. Sadly, most voters are as morally blind as the people they elect; either they're complicit in the rigged casino (i.e. they're hoping to share in the spoils via their pension, IRA, 401K, etc.) or the corruption and rot has seeped so deep that the nation's moral compass is spinning aimlessly.

 

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Fri, 04/04/2014 - 10:53 | 4624835 williambanzai7
williambanzai7's picture

Good luck...

Fri, 04/04/2014 - 10:56 | 4624845 Ignatius
Ignatius's picture

Yeah, this outa solve it.  Thanks, Charles

Fri, 04/04/2014 - 10:58 | 4624854 Jumbotron
Jumbotron's picture

President's do not kiss Wall Street's ass.

Wall Street always has their thumb up the President's ass waving him around as a hand puppet.

"Look....look over here at the puppet and not at what I am doing with HFT and currency manipulation and MBS and CDO's.....etc....etc.....ad nauseum."

Fri, 04/04/2014 - 11:05 | 4624879 Vampyroteuthis ...
Vampyroteuthis infernalis's picture

I asking for something a little simpler. How about a competent president?

Fri, 04/04/2014 - 11:12 | 4624909 Rainman
Rainman's picture

next question ...

Fri, 04/04/2014 - 12:10 | 4625115 Buckaroo Banzai
Buckaroo Banzai's picture

Ronald Reagan got shot for bucking the financial status quo. I'm pretty sure other politicians with presidential aspirations are aware of this.

Fri, 04/04/2014 - 12:27 | 4625123 Manthong
Manthong's picture

 

Barak Hussein Obeisance - ” tending the plantation since 2008”

It has a nice ring to it.

Additionally,

“He too has bent down and kissed Wall Street's rear end”

..he is very good at bowing.

 

Fri, 04/04/2014 - 12:33 | 4625229 FeralSerf
Fri, 04/04/2014 - 13:46 | 4625517 N2OJoe
N2OJoe's picture

Mostly good ideas, but not the tax.

The LAST thing the USSA needs is more extortion money.

Fri, 04/04/2014 - 14:02 | 4625561 Thisson
Thisson's picture

Agreed, except perhaps to the entent that there be a FEE for the cancellation of a bid or offer, with the proceeds set aside for victims of securities fraud and/or to fund FDIC payouts.

Fri, 04/04/2014 - 14:59 | 4625842 AldousHuxley
AldousHuxley's picture

Obama...nation's top lawyer still needs to work for money so he will always be kissing somebody's ass....just like the rest of us. Today it is wall street, but who wil be a better boss....legal industry? military industrial complex? educational industrial complex? healthcare industrial complex? how about good ole religious industrial complex?

 

only way to beat power is to divide it instad of leaving the seat void.

Fri, 04/04/2014 - 12:58 | 4625265 de3de8
de3de8's picture

Obviously missing who's bread buttered by whom.

Fri, 04/04/2014 - 11:13 | 4624911 strannick
strannick's picture

No chance. His name was Ron Paul.

Fri, 04/04/2014 - 14:32 | 4625595 sessinpo
sessinpo's picture

Vampyroteuthis ...     I asking for something a little simpler. How about a competent president?

---

What if the President is competent and is doing exactly what is occuring now? And what if there are so many constituents that are either ignorant or dependent on that President that the President can get away with policies you disagree with?

Fri, 04/04/2014 - 14:12 | 4625602 sessinpo
sessinpo's picture

Vampyroteuthis ...  I asking for something a little simpler. How about a competent president?

---

A better question is, how about a competent public?

Fri, 04/04/2014 - 11:11 | 4624898 Drifter
Drifter's picture

As much chance of that EO happening as hell freezing over.

Any presidential nominee regardless of party will kiss banker ass.

They won't get the nomination if they don't.

CHS is just another pie-in-the-sky dreamer.

Fri, 04/04/2014 - 12:19 | 4625143 BigJim
BigJim's picture

Things are only going to change if we have a systemic collapse, or if enough of the electorate wake up and start voting politicians in that will start making some changes.

All we can do with regards to the former is prep; as for the latter, it is the duty of every awake and informed person to spread the word. CHS advocates both, publically and prolifically. What have you done lately, twat? 

Fri, 04/04/2014 - 12:24 | 4625170 ArkansasAngie
ArkansasAngie's picture

Well ... if we keep saying it will never happen and don't do anything to make it happen, you are right.

But ... by golly ... voting is the preferred method of throwing the bums out.  

What we have to do is quit being wedged by social issues.  

I will not be voting for any incumbents

I'm feeling pretty lonely in this endeavor

Fri, 04/04/2014 - 13:20 | 4625422 SubjectivObject
SubjectivObject's picture

I'm with you, and that is the message I have been making everytime the opportunity presents.

If it's a war, weepeons need to begin with activism in current system at the local level.  Let the status quo make all the mistakes of oppression, as they did with the Ron Paul candidacy, defending their power, and put these be in the light as frequently as the current status quo propaganda.  This needs to be a generation's long war/campaign.  Going direct to guns or hoping a reset will work out in our behalf is an extremely wishful plan given their hold on capital, military, and police power.

Banner/lawn sign idea: 

Red Party / Blue Party
They All The SAME Party
Vote NO Incumbents

(maybe wishful thinking they know the meaning of "incumbent")

Fri, 04/04/2014 - 11:12 | 4624907 Two-bits
Two-bits's picture

And if you don't comply?

 

Any president who takes on the FED will join this list:

 

Jackson

Lincoln

Garfield

McKinley

Kennedy

 

Jackson lived, but these quotes sum it up well:

 

"The Bank is trying to kill me - but I will kill it!" Later he said "If the American people only understood the rank injustice of our money and banking system - there would be a revolution before morning..."

 

Fri, 04/04/2014 - 12:13 | 4625127 DeadFred
DeadFred's picture

My understanding is that Reagan, pre-Hinckley, was anti-banking. Strangely he changed his tune after getting out of the hospital and became a great friend of big finance.

Fri, 04/04/2014 - 12:29 | 4625202 Two-bits
Two-bits's picture

I didn't add Reagan because of the Hinkley-Bush connection, but I read similar info and believe, at least in part, that the attempt on his life had to do with the banksters.

Fri, 04/04/2014 - 12:48 | 4625280 jmc8888
jmc8888's picture

Jackson WAS Wall Street.  He was the crony who turned America from American to British, financially, and banking system wise.

 

Much of the rot today was started by Andrew Jackson, Martin Van Buren, and their British Empire handlers.

 

Don't forget they were involved with Aaron Burr, who of course killed Hamilton.  Also don't forget those who killed Lincoln, raised Teddy Roosevelt.   Because don't forget what the Civil War was really about was a foreign nation, Britain, trying to split America into two clandestinely.   Like we haven't seen this before a hundred times in other places.

Andrew Jackson was a traitor, a liar, a mass murderer of Indians with his own Bataan death march 'trail of tears', and set us up for ruin in this country.  The federal reserve could only be created without a functioning central bank.   Corruption charges were trumped up, and besides, if you want to get rid of corruption, get rid of corruption by trying the criminals.  Giving wall street and a bunch of foreign bankers control over your money supply, only set us up for far more ACTUAL corruption.

Andrew Jackson WAS Wall Street.

The rest of your list is right on though.  It's just sad to see the man who gave us the rise of Wall Street over America, on that list of being against Wall Street.   He wasn't. British owned U.S. Presidents like him and his other minions plus Wall Street (one in the same) gave us the civil war. They still infect our country today and are the root of so much of the degredation of the U.S.

Remember what they say about the election of '28.  It was the worst campaign ever.  Dirtiest campaign ever.  Wall Street wanted to win, and win they did.  The more things change, the more things stay the same.

If you want to get to the bottom of it all, or maybe it's just the start, google the following two items.

How Andrew Jackson Destroyed the United States.  -I suggest downloading the PDF.

The British Crown Created Green Fascism.    -Download the PDF.

Read those, and you'll understand how and why we are experiencing today.  Of course through today's means.

 

Glass-Steagall

Fri, 04/04/2014 - 13:21 | 4625427 falak pema
falak pema's picture

Sorry but Larouche gobbeldy gook, all dressed up in gnomes and worms, makes we want to sneeze.

I think he belongs with the Lord of the Rings and Quidditch.

Fri, 04/04/2014 - 14:04 | 4625567 marathonman
marathonman's picture

Umm, so how exactly does fighting against the British in the War of 1812 and beating them in the Battle of New Orleans put Andrew Jackson as a British puppet?? 

Fri, 04/04/2014 - 14:30 | 4625669 g speed
g speed's picture

888 ad infinitum

You have been informed by the uninformed and are therefore full of shit--sorry but someone needed to tell you.

Fri, 04/04/2014 - 10:57 | 4624849 Dr. Richard Head
Dr. Richard Head's picture

Exactly.  Remember the Dodd-Frank bill taht was supposed to hold these cockroaches accountable?

"In the end, our financial system only works –- our market is only free –- when there are clear rules and basic safeguards that prevent abuse, that check excess, that ensure that it is more profitable to play by the rules than to game the system. And that’s what these reforms are designed to achieve -- no more, no less. Because that’s how we will ensure that our economy works for consumers, that it works for investors, that it works for financial institutions -– that it works for all of us.

This is the central lesson not only of this crisis but of our history. Ultimately, there’s no dividing line between Main Street and Wall Street. We rise or fall together as one nation. So these reforms will help lift our economy and lead all of us to a stronger, more prosperous future.

And that’s why I’m so honored to sign these reforms into law, and I’m so grateful to everybody who worked so hard to make this day possible. Thank you very much, everybody. (Applause.)"

BHO

Fri, 04/04/2014 - 11:30 | 4624963 moneybots
moneybots's picture

"In the end, our financial system only works –- our market is only free –- when there are clear rules and basic safeguards that prevent abuse, that check excess, that ensure that it is more profitable to play by the rules than to game the system. And that’s what these reforms are designed to achieve -- no more, no less."

 

GlasscSteagall was 40 pages, compared to Dodd Frank wich is over 2,000 pages, not to mention the bureaucratic follow on rules.  D F is not about basic rules. 

In addition, with the politicians in bankers pockets, some aspects of D F are being watered down.

On top of it, the market isn't free when it is being artificially pumped up to where it doesn't belong.

"So these reforms will help lift our economy and lead all of us to a stronger, more prosperous future."

Not even close.

Fri, 04/04/2014 - 12:22 | 4625155 BigJim
BigJim's picture

 "So these reforms will help lift our economy and lead all of us to a stronger, more prosperous future."

Not even close.

Oh, I don't know. You just have to realise whom BHO was referring to when he said 'all of us'. 

Fri, 04/04/2014 - 11:10 | 4624895 yrad
yrad's picture

I will simply write in Ron Paul for the 3rd consecutive cycle. Yes, its pointless, but other than moving to Canada it's the only logical thing to do.

Fri, 04/04/2014 - 11:22 | 4624938 Hayabusa
Hayabusa's picture

This story was a complete waste of time.  Contributions were just unchained making it even easier than

before to bribe our elected officials.  Our current and future president are but talking heads with Wall Street puppet strings attached to them... bought and paid for and under control.  I believe the author of the story forgot the "/sarc" addition to the end of his post... either that or he's been living in an ideological land of hoping things will happen that never will.

Fri, 04/04/2014 - 12:07 | 4625103 DeadFred
DeadFred's picture

Yeah, good luck. I see a 50:50 chance we never see another president. But I'm pretty pessimistic about America's chances in the near future.

Fri, 04/04/2014 - 12:56 | 4625318 Nemo DeNovo
Nemo DeNovo's picture

I fully agree, know there was a lot of talk about baby bush not leaving office but obongo seems to actually be putting into place the needed items to Stay in power, but YMMV

 

Nobody lives Forever....

Fri, 04/04/2014 - 10:55 | 4624842 Pairadimes
Pairadimes's picture

"The only way to win is....not to play."

Fri, 04/04/2014 - 11:00 | 4624844 inky
inky's picture

Qualifications needed for next president = can you pucker up.

Fri, 04/04/2014 - 10:56 | 4624848 American Dreams
American Dreams's picture

Charles you do realize that what you ask is a death wish for any president, past, present or future. 

Know your enemy

AD

Fri, 04/04/2014 - 10:57 | 4624852 PlusTic
PlusTic's picture

IMPOSSIBLE...you need to raise money for your campaign from thes very same ASSHOLES

Fri, 04/04/2014 - 11:00 | 4624855 booboo
booboo's picture

This tax would embedded into the cost of every stock and send the feel good market to new highs, mission accomplished.

Fri, 04/04/2014 - 11:05 | 4624881 Dr. Richard Head
Dr. Richard Head's picture

You know, freedom of speach and all! *jazz hands*

Fri, 04/04/2014 - 11:38 | 4624996 Georgia_Boy
Georgia_Boy's picture

The tax just means you are still skimmed, just the government is now the skimmer. I'm not crazy about opening that door. (Paul Krugman's all about it, of course.) Would just the delays do the job against HFT?

Well OK I'll agree to it, as long as you make me the beneficiary of the tax. I'm holding Wall Street accountable, yeah that's it!

Fri, 04/04/2014 - 10:59 | 4624857 mijev
mijev's picture

Is it just me or is the number of zerohedge articles growing rapidly? Given that 80% of my interest in ZH comes from the comments, it's a bit distracting. Similar to my guitar effects unit where I have 300 average sounds but all I need are six or seven great sounds. 

 

As to the article itself, who wouldn't agree but none of us can enact such a law.

Fri, 04/04/2014 - 12:22 | 4625163 Cthonic
Cthonic's picture

Yeah overload, I wrote a python script to scrape the good stuff.

Fri, 04/04/2014 - 11:00 | 4624858 falak pema
falak pema's picture

GWB's paintings of past leaders should be a reminder that those who don't kiss Oligarchy ass will look like the sinister Putin in Pax Americana Oligarchy eyes! 

When King Koch says :  I stand for liberty or death; you know that the Oligarchy sings : liberty for us the 0.001% and death for all those who play at being buckaroo heretics! 

Fri, 04/04/2014 - 11:10 | 4624894 booboo
booboo's picture

So your problem is free speech, but as long as the donor is a hungarian born former nazi youth rat bastard..... Got it.

Fri, 04/04/2014 - 11:34 | 4624935 falak pema
falak pema's picture

Got your logic mixed up like those proverbial tits of Katherine Graham as that other Nixonian rat said in "All the Kings Men" ?

Free Speech needs NO DONORS. Remember the Pentagon Papers? 

To understand THAT just look at Snowden and all the others who sacrificed their lives.

Unbiased sentiment  is a clean witch that makes the dirty itch in the wrong places. You need to dump your mindset into the rubbish bin. 

Fri, 04/04/2014 - 11:36 | 4624981 booboo
booboo's picture

So your mom stills strokes a check for your broadband. Snowden? Right, no cost in terms of fiat for his disclosures since Greenwald fly's for free. You live in a fucking bubble if you think " free speech" if free. Get out more, there is a cost associated with everything, especially speech.

Fri, 04/04/2014 - 12:03 | 4625084 falak pema
falak pema's picture

your perception of fact and objectivity is totally subservient to you knee jerks and emotional bias.

Snowden has done more to hurt and expose the US MIC/Spying machine; the most perverse expression of global power in this day and age; than anything anybody else has done in the past two DECADES.

When did I say free speech was free in terms of BLOWBACK. But facing blowback from the powerful requires ethics, faith and guts! 

So don't foul-mouth fact to upgrade your own street savvy fiction. Get out and around what?

Are you sitting on a merry-go-round paid for by the >Tea party quacks? 

If you want to troll that's your choice as you bring no fact or argument to the table. Just froth n bubbles. 

 

Fri, 04/04/2014 - 13:10 | 4625387 Accounting101
Accounting101's picture

No dumbass, that's not what was implied, but go ahead and play the tribal bullshit game. Obviously the criticism leveled at Koch hurt your political sensibilities. He's your oligarch, and because he gives droves of money to "conservative" causes, Koch is alright.

An oligarch is an oligarch. When they win, and they always do, you lose. Stop being a tool.

Fri, 04/04/2014 - 14:32 | 4625683 Harbanger
Harbanger's picture

They are all the same dumbass, get with the programming. Besides, what's a liberal to do without some straw man to hate?
Mindless goosesteppers always hate those who make their "stuff" available unless it comes from the Gov.

BTW, The liberal media controls NBC, CBS, ABC, CNN, Hollywood, pretty much every magazine, and newspaper.   The problem is clear, it's the koch bros, that's why I don't hate you for being brainwashed.

Fri, 04/04/2014 - 18:52 | 4626726 Accounting101
Accounting101's picture

Thank you for proving my point. Your dick got hard because somebody mentioned Koch in a negative way. He's your oligarch and you're his bitch.

Again, an oligarch is an oligarch, no matter if its the Koch's, Buffet or Soros.
They are parasitic and feed of the middle and lower classes.

Fri, 04/04/2014 - 10:59 | 4624859 bshirley1968
bshirley1968's picture

You will NEVER be president without kissing WS ass FIRST.

The race is rigged just like the markets.  Hell, this whole country is rigged.  We live in the matrix.  People are waking up, mad as hell, and now just need some leadership to unite us under the heading of STRICT Constitutionalist and take this game back to some reality.  I am always amazed at the thought that those who will fight FOR the Constitution will be labeled rebels, traitors, and terrorist.  But is already happened in the 1800's because that is exactly what the civil war was about and now here we are revisiting the same principles.

IMHO, won't happen without a war.  No way the bastards now in control give it up by votes, negotiations, legislation, or rule of law.  They are lawless thugs that only understand one thing........force.  They are looking around right now and there is no "force" out there to stand in their way.  May never be any, but they will have no problem shedding blood to maintain their death grip on this country and the power of the dollar.

Fri, 04/04/2014 - 10:59 | 4624860 Al Huxley
Al Huxley's picture

The only guys allowed to contend for the job are the ones who've prequalified themselves as 100% willing to suck wall street dick.  Dream on Charles.

Fri, 04/04/2014 - 11:01 | 4624865 djsmps
djsmps's picture

I expect that we are in for a long run of celebrity presidents.

Fri, 04/04/2014 - 11:04 | 4624874 Jumbotron
Jumbotron's picture

Might as well make an American Idol version just for elections.

"American Dictator"  hosted by a panel of washed up entertainers and a foreigner.  Also audience participation by phone, text, Facebook, and Twitter.

Cant' get any worse than today's system.

Fri, 04/04/2014 - 11:04 | 4624875 nickels
nickels's picture

Who will provide the "deep voices" to "contribute" enough "free speech" to make that happen?

Fri, 04/04/2014 - 11:03 | 4624871 RockRiver
RockRiver's picture

What the hell is he talking about? We are trying to get .gov out of our lives, not deeper into them.

Pay the gov for entering an order? Seriously? This sounds like a neat way to stop the HFT and phony order shenanigins but it's never a good idea to invite the gov to further intrusion into the affairs of citizens....

Fri, 04/04/2014 - 12:50 | 4625293 LooseLee
LooseLee's picture

Exactly, put the fees in a fund to restitute those harmed by 'manipulation'. If there is 'excess', it will be used to purchase physical GOLD for the people.....

Fri, 04/04/2014 - 11:05 | 4624877 Bearwagon
Bearwagon's picture

Ain't we got that guy, named "Not Sure"? He da man for the job!

Fri, 04/04/2014 - 11:07 | 4624887 El Hosel
El Hosel's picture

My Dear boy,  a 5 year rim job is not a kiss. It is what it is.

Fri, 04/04/2014 - 11:25 | 4624884 Dr. Engali
Dr. Engali's picture

Executive orders my ass. I don't care about moar rules Charles. I care about a system that lets entities succeed or fail. it is really that simple. If a company deserves to die let it die. Less gubermint, especially power grabbing executive order using guberment, not moar is the answer.

Fri, 04/04/2014 - 13:03 | 4625357 Nemo DeNovo
Nemo DeNovo's picture

+1000

 

Not 100% sure where CHS stands on the whole big .gov vs NO .gov issue he is a little confusing on that issues for sure, but alas IMO there is NO way out of this mess by voting and/or using the 'system' to fix this shit.  Only way out in my view is collapse, so that all those who have been apathetic toward all of this feel some kind of consequence for their inaction.  The 'maybe' we can fix this shit, but I do not hold my breath............

Fri, 04/04/2014 - 13:18 | 4625417 Dr. Engali
Dr. Engali's picture

CHS is a statist, pure and simple. Many of his posts make it look like he is a limited government free market person, but every once in a while his true colors come out.

Fri, 04/04/2014 - 11:09 | 4624890 Incubus
Incubus's picture

lol. theatre.

 

is this some sort of litmus test?

 

any seasoned zh vet knows presidency means fuck-all.  it's just an honorary position.

Fri, 04/04/2014 - 11:11 | 4624901 Nehweh Gahnin
Nehweh Gahnin's picture

Hey CHS, being "morally blind" means continuing to believe that voting accomplishes anything.  Read some Emma Goldman, bro.

Fri, 04/04/2014 - 11:36 | 4624903 inky
inky's picture

A yucca plant with a face drawn on it for next president!

I honestly dont think most of the population of usa would notice,or could tell the difference.

Fri, 04/04/2014 - 11:12 | 4624905 medium giraffe
medium giraffe's picture

Sorry to change the subject for a sec (sorry Tylers), but we are actually selling off a bit here.  Wowzerz.

Fri, 04/04/2014 - 11:15 | 4624918 alfred b.
alfred b.'s picture

 

    ...does this mean ya' want Holder  in 2016??     His doesn't do rear-ends, he kneels in front.

 

Fri, 04/04/2014 - 11:16 | 4624921 moneybots
moneybots's picture

A tax will be passed on to the consumer.  A $2,000 round trip tax on large orders by mutual funds is going to hurt returns on retirement funds.

Fri, 04/04/2014 - 11:18 | 4624924 MiniCooper
MiniCooper's picture

Elizabeth Warren is the person who could be that 'next President' the USA really needs.

She seems decent, independent and not at all close to Wall Street.

 

Fri, 04/04/2014 - 11:21 | 4624930 Incubus
Incubus's picture

you shut your dirty mouth!

Fri, 04/04/2014 - 11:30 | 4624964 booboo
booboo's picture

Lizzy Warren knows the best way to find banker donations is to root around in their ass. Every time she shoves her head up a bankers ass she comes out with a donation. It looks good on the evening news but in the end( no pun) she gets her cash.

Fri, 04/04/2014 - 16:41 | 4626366 Emergency Ward
Emergency Ward's picture

"You didn't make that" so she might as well have it.....

Fri, 04/04/2014 - 13:37 | 4625491 Emergency Ward
Emergency Ward's picture

I was thinking of someone more like Hillary Clinton, you know, even more decent and independent and not at all dependent on WS.......

Fri, 04/04/2014 - 11:21 | 4624929 loveyajimbo
loveyajimbo's picture

JFK tried it... didn't end well...

Fri, 04/04/2014 - 11:22 | 4624937 all-priced-in
all-priced-in's picture

Rule #2 is just a tax - if the only solution you can come up with to solve a problem is paying a tax to the federal government - then you are automatically a fucking idiot in my book.

I place maybe 4-5 trades for every one that actually executes. This is normal trading / investing.  

I assume he is trying to stop someone  from placing thousands of orders / then canceling them (all in a .001 of a second) just to try and figure out where the market is heading - but if someone places a order to buy 1,000 shares at a limit of  $15 when it is trading at $15.25 - and the stock never hits the limit price - why should that generate revenue for the federal government?

 

The guy that wrote this needs to pull his fucking head out of his ass and understand the difference between "normal" transactions - and gaming the system.   

Fri, 04/04/2014 - 11:55 | 4625052 I am a Man I am...
I am a Man I am Forty's picture

Plus a gazillion, why would he suggest this?  I mean fucking really, why would he want to do this??  Srsly, what the fuck?!?

Fri, 04/04/2014 - 13:36 | 4625488 kellycriterion
kellycriterion's picture

Disinformation, blame game, show trials, anything ring a bell?

Fri, 04/04/2014 - 13:17 | 4625413 Stuck on Zero
Stuck on Zero's picture

Don't think of it as a tax, think of it as an "ante" in the Wall Street poker game.  Besides, a little "friction" in the free market prevents wild gyrations.

 

Fri, 04/04/2014 - 11:24 | 4624939 Kaiser Sousa
Kaiser Sousa's picture

Charles give it up already...

 

Fri, 04/04/2014 - 11:25 | 4624944 fzrkid
fzrkid's picture

how about some sort of balanced budget for the current fiscal year not 20 years out

Fri, 04/04/2014 - 11:28 | 4624948 CouldBeWorse
CouldBeWorse's picture

I would like to see Ohio Govenor, John Kasich have a crack at the job.  He's done wonders for our State in the last five years.  I don't know if he would stand up to Wall Street but we wouldn't be in a jobless recovery taking on more debt...

Fri, 04/04/2014 - 11:29 | 4624952 RockRiver
RockRiver's picture

Rule #2 is just a tax - if the only solution you can come up with to solve a problem is paying a tax to the federal government - then you are automatically a fucking idiot in my book.

 

+1

Dumbest idea I've heard in a long time,

 

Chuck just became part of the problem.....

Fri, 04/04/2014 - 11:38 | 4624994 Anusocracy
Anusocracy's picture

Chuck wants to keep the status quo but with fixes he approves.

I approve of panarchy where each person lives within a government, or no government, that they choose individually.

Worked for religion.

Fri, 04/04/2014 - 11:41 | 4624958 Future Jim
Future Jim's picture

If this passes, let me know becasue it will precipitate a decline and crash - especially now - just like it did when regulation forced us to go from mark-to-model to market-to-market in 11/2007 and the current bull market began when regulation forced us back to mark-to-model in 03/2009.

It is almost as if regulation is being used to create bubbles and crashes.

Even when we briefly had mark-to-market, that was not a move to free markets because eveyone was forced to do the same thing. In a free market, some would use mark-to-market and some would not, and those who chose mark-to-market would get the trust of more customers, and failures would be spread out and fewer, and thus not serve as a pretense for new regulations, bailouts, QE, ZIRP, and lower fractional reserves.

Fri, 04/04/2014 - 11:30 | 4624959 Duc888
Duc888's picture

 

 

That's the Presidents job, to suck bankster dick.

Fri, 04/04/2014 - 11:41 | 4625006 all-priced-in
all-priced-in's picture

Everyone knows this - but they are not suppose to enjoy it this much!

Fri, 04/04/2014 - 11:35 | 4624979 Species8472
Species8472's picture

A transaction fee make the Gov the skimmer. A small cancellation fee is all that's needed.

or a just make orders hold good for 1 sec.

 

Fri, 04/04/2014 - 11:37 | 4624989 SameAsItEverWas
SameAsItEverWas's picture

Doesn't anyone know law?  There are already more than enough existing well-settled laws: e.g. conspiracy, wire fraud, racketeering, and RICO.

All that ANY prosecutor in the country needs to do is emapanel a Joe Arpaio-styled in thought (but thoroughly conventional in substance!) grand jury. 

The same is true, BTW, for any state in the nation who had one of its legal residents die as a result of the 9/11 act of terrorism where the true malefactors have been uninvestigated.  There is no statute of limitations for murder and anyone who had knowledge of that huge "operation" and did any overt act to cover it up could be charged with aiding and abetting or some-such lower felony.  Just as there must have been at least a thousand people who knew of the operation in advance, there are large numbers of people who suppress the accurate reporting of it.

The president doesn't appoint special prosecutors and is not the top law enforcement officer, per se, which is different from his role as commander in chief of the military.  There would be several paths to empanel a special prosecutor with sweeping powers and large staff, a la Kenneth Starr.  None of those paths require an EO.  All the president needs to do is order the AG to do it, and if they keep refusiing we could have the Saturday Night Massacre situation in reverse, so to speak.

Which is worse?  9-11 or the financial crimes?

 

Fri, 04/04/2014 - 11:37 | 4624990 unplugged
unplugged's picture

2014 wishes: an enlightened aware subgroup of the citizenry who takes the lead to take back control of the govt, realizes they are the bosses of the president, of the congress, of the supreme court, realizes they pay the salary of the president, of congress, of the supreme court, nsa, cia, fbi, military, etc, uses the hopefully upcoming states convention to draft much needed amendments to the Constitution (see Levin - Liberty Amendments for a good start) and then follows thru with a 3/4 states approval/ratification of those amendments which then take affect, and finally a citizenry that realizes this has to be and can be done, sheds its defeatist attitude, and adopts the courage, persistence, and fortitiude to take back control of the country from the Rothschild Regime who stole it back in 1913.

in addition to Levin's Liberty Amendments, proposed amendents:

1. no USA central bank allowed ever - abolish the current Fed
2. any Fed or State govt official who violates any provision of the Constitution shall be jailed for life for high treason
3. hard cap on money spent by candidates on campaigns, no contributions allowed from banks or corporations, $10,000 per donor hard cap
4. national gold reserves audited monthly, via a walk-thru of vaults, with 50 citizens randomly picked (jury duty style) to witness audit
5. no fed govt debt or deficit allowed - illegal - balance must always be positive
6. ?....

 

Fri, 04/04/2014 - 11:43 | 4625013 pragmatic hobo
pragmatic hobo's picture

... well ... we already know what happens to candidates who don't kiss wall-streets behind ... they don't become presidents.

Fri, 04/04/2014 - 11:44 | 4625016 Poofter Priest
Poofter Priest's picture

Before you can expect a Prez do work for the people you have to....

 

A) Campaign reform- This is going against a 'play' that has been enacted. SCOTUS first says corporations are people. Then...'people' can donate as much money as they want to a campaign. Does this look like an accident??? I believe that media should provide each candidate with free time/exposure. All candidates share the same amount through those controlled channels.

B) Lobby reform- This is going to be a hard one. Petitioning your goverment is part of the democratic republic system. But the revolving door and the allowing sitting politicians to trade on insider information could be easily stopped.

C) Finance reform- This would include Wall Street. But taking the banks back to how they functioned after the 1929 crash would be another big step.

The problem is this would be like spraying one apartment in a large apartment building for cockroaches. If you don't do the whole thing at the same time, the dark influences will just shit to another place until the watchers are gone.

But the President (even a functioning one) has little to do with what is listed in this article with his current powers. Congress would have to do it.

And realistically.....that ain't gonna happen.

Fri, 04/04/2014 - 11:46 | 4625026 Never_Put_Down
Never_Put_Down's picture

Ya OK Charles Hugh-Smith. You all had a candidate that wouldn't or didn't kiss the corporate ring in over 30 years in Congress. Honest, conservative, a strict Constitutionalist and a Champion of Liberty and look what happened? He was marginalized, ridiculed and pushed out. You guys can't pick a winner when your country depends on it

Fri, 04/04/2014 - 11:51 | 4625043 I am a Man I am...
I am a Man I am Forty's picture

fuck paying a fee to the US Treasury

Fri, 04/04/2014 - 12:04 | 4625089 kellycriterion
kellycriterion's picture

TOTALLY DISHONEST ARTICLE.

The role of the CBs/banking cartels in the government confiscation games is crucial.

1. Who is the 2nd greatest beneficiary of ZIRP after cartel banks?

2. How much of US, UK, Japan QE has gone directly to government bonds? How much indirect? Then there's the ECB indirect support of sovereign bonds.

3. Who benefits from inflation?

4. Let's not forget cartel banks marketing of sovereign bonds.

5. "Taxing" without borders and buccaneer banking. It's a global economy, the dollar is the reserve currency. While it's true most of the value goes to the top of the crime syndicate food chain, there's some trickle down. Ask the people in the London real estate biz.

I can see governments taking more direct control themselves and calling it reform. It's SOP. And they have so many enthusiastic co-conspirators.

Fri, 04/04/2014 - 13:39 | 4625492 JR
JR's picture

Is there any hope that we might actually elect a president with the mandate and courage to take down Wall…

It’s a core problem aside from Wall Street: it’s the central bank which obviously runs Wall Street but runs the Congress and the very fabric of the American society as well.

America has no legitimate medium of exchange. No man would knowingly accept for his labors a currency that others shopping in the same market place can print freely for themselves, with no oversight, to use in that same market place.

It’s a mistake to solely direct charges against Wall Street when Americans lost total control of their lives and livelihoods in 1913 to private international bankers with the permission to print the currency, assign its value, and allocate it to themselves and their friends, while denying its allocation to their enemies or competitors.

How much longer can we avoid the elephant in the room? It’s not the president, it’s not the Congress, it’s not Wall Street. It’s the Federal Reserve Bank that has corrupted all our institutions and our leaders.

Fri, 04/04/2014 - 12:15 | 4625133 therover
therover's picture

"A President Who Doesn't Kiss Wall Street's Rear-End"

You mean Putin ?

Fri, 04/04/2014 - 13:15 | 4625406 JR
JR's picture

As Kevin Barrett writes in “God bless you, President Putin!” on For the Fans:

To many in the West, Putin is seen as a shining light and a beacon — one who will hopefully deliver the world from the evil clutches of the New World Order…

In the wake of Crimea’s independence referendum, Hillary Clinton says Russian President Putin is a “new Hitler.”  Zbigniew Brezezinski, former National Security Advisor agrees, calling Putin not just another Hitler, but also a thug, a menace, a Mafia gangster, and a Mussolini. The Western mainstream media echoes this childish name-calling.

Why is the whole Western foreign policy establishment so afraid of Putin? Because Putin is standing up against Western aggression – not only in Ukraine, but also in Syria and Iran. Ongoing Western attempts to destabilize these and other countries are just the most recent examples of a decades-old pattern of aggression.

The long-term goal: Total destruction of traditional nations and their values, and the creation of a New World Order global dictatorship...

http://www.for-the-fans.com/god-bless-you-president-putin/#more-375

Fri, 04/04/2014 - 12:31 | 4625218 mrdenis
mrdenis's picture

Christie kissis nobody's ass .......he may take a bite though 

Fri, 04/04/2014 - 12:37 | 4625243 therover
therover's picture

Oh yes he does...have you talked to Sheldon lately ?  He got his ass and his shoes kissed by CC.

Fri, 04/04/2014 - 12:46 | 4625281 Billy Sol Estes
Billy Sol Estes's picture

Jeb Bush is the man to solve our nation's woes.

Jeb 2016!!!!!

Fri, 04/04/2014 - 14:06 | 4625570 machineh
machineh's picture

That's grosser than Hitlery Clitler camel toe.

*blows lunch*

Fri, 04/04/2014 - 13:00 | 4625333 AbbeBrel
AbbeBrel's picture

More LOL 

 

 

For me the "ahah" moment was when Timmee and Hankee went running to Obee in November with their hair on fire and said quick we need a credit hold on a $Trillion or so of USTankeeTankeeTaxpayee dollars - or else bankers (and banks) will implode everywhere.   And as Obee certainly did not want to clean up that mess anytime in the next 8 years - he put down his putter long enough to consult his teleprompter and said "Make It So".    This is WHEN I realized that Obee was commander of the starship USSTaxypayer but had ZERO control on the BankerDeathStar and its fleet of BankerOnes.   (rhymes with Clones). 

The rest of the movie played out in a predictable fashion, with Obee playing with the fuzzy TankeeTaxpayer critters down on the planet while the BankerDeathStar is nearing full operation.    What we don't know is what will happen when they *really* try out their death ray - so far we have been only experiencing test firings.

And Obee and who ever replaces him, will NEVER dare to invade the BankerDeathStar...

Meanwhile the credit hold was certainly enough to fix Timmee's and Hankee's hair "in post".

Fri, 04/04/2014 - 13:46 | 4625518 Son of Captain Nemo
Son of Captain Nemo's picture

If anyone would care to take notes...

This is how bankers in Vietnam get treated for $25 million fraud.

Jamie and Lloyd!  Where are you brother(s)???

http://www.liveleak.com/view?i=963_1396568861

 

 

Fri, 04/04/2014 - 14:08 | 4625579 BustainMovealota
BustainMovealota's picture

As it should be.  And also when politicians commit treason against the Constitution.

Fri, 04/04/2014 - 14:08 | 4625580 BustainMovealota
BustainMovealota's picture

As it should be.  And also when politicians commit treason against the Constitution.

Fri, 04/04/2014 - 13:49 | 4625525 atomicwasted
atomicwasted's picture

Every instrument is tradeable.  A check is tradeable.  An IOU from my neighbor is tradeable.  A portfolio of accounts receivable is tradeable.  You want all of that to go on a public exchange?  Clearly you have never actually transacted business with anyone.

What is magical about one minute?  You understand, Charles, that your mechanism just pushes out the battle of nanoseconds one minute, right?

Of Two Minds sometimes has some good ideas; today's is poorly thought out at best.

Fri, 04/04/2014 - 14:06 | 4625571 BustainMovealota
BustainMovealota's picture

Gonna be tough request to fulfill when Wall St owns the US Government.

Fri, 04/04/2014 - 14:40 | 4625745 free_lunch
free_lunch's picture

The theoretical division of branches is into a legislature, an executive, and a judiciary. With the press as an external 4th power keeping them honest.

Which one is not corrupted? (rhetorical question)

So you believe that a president could change anything, you have a lot to learn about the matrix.

Politicians are only the puppets to take the heat, to be blamed and to be replaced to calm the people when the mob gets angry. In return they get rich and privileged for life.

A lot of high level politicians (US/EU/UN) have openly expressed that heir goal is one world government. Strangely there seems to be a wide consensus over this, there is no political opposition to this idea from political opponents, nor from union leaders or journalists.

They fight over everything but this one world governments seems to be an accepted fact they all agree on. No debate, no discussion. Isn't that strange?

 

 

 

 

Fri, 04/04/2014 - 15:20 | 4625956 malek
malek's picture

 next president issues an executive order (or whatever it takes)

I think you meant next dictator?

Yes, we need a strong leader who corrects all the wrongs by decree - or at least promises to do so! <facepalm, obvious sarc tag omitted>

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