June 20 (Bloomberg) — NYSE Euronext CEO Duncan Niederauer
tells lawmakers that high-frequency trading is hurting public
confidence in equity markets.
* “The public has never been more disconnected,” Niederauer
says at House Financial Services panel hearing on market
* NOTE: Lawmakers are scrutinizing high-frequency trading
after May 6, 2010 plunge briefly erased $862b in U.S. equity
* NOTE: SEC Chairman Mary Schapiro has pressed for marketwide
surveillance system to track stock trades
- Regulator puts a spotlight on high-frequency trading (theglobeandmail.com)
- HFT using neutrino physics: Stats Jackassery (scottlocklin.wordpress.com)
So while the average Joe pays his taxes and struggles on with his life during this recession, the band of celebrities paying little or no tax grows larger and larger.
Other beneficiaries are big corporations who also limit their tax bills. Yet all these people are happy to use the amenities that the tax payer pays for…… roads, hospitals, police fire etc etc..
So what’s gone wrong? Well, I suppose it’s fair to say that greed has taken over and some misconception that “they are worth the money”
The current pay revolt is against Corporate CEO’s…who’s next on the list, the overpaid footballer, TV presenter, celebrity..
Come on HMRC, level out the playing field.
Common sense, don’t believe in your own publicity forever.
G20 leaders ended their summit in Mexico without a detailed plan for
dealing with Spanish and Italian borrowing costs or creating a
eurozone-wide deposit insurance scheme, the WSJ reports. ‘Euro Area
members of the G20 will take all necessary policy measures to safeguard
the integrity and stability of the area,’ the G20 declared. Specific
proposals for a European banking union are not likely before September.