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Who Benefits From Market Speed Bumps? The Exchanges

Since the election, stock prices have risen sharply on hopes that a wave of pro-growth policies under Donald J. Trump will drive up equity prices even further. But Mr. Trump’s administration will soon face a trend that threatens to move the long-term benefits found in stock markets away from investors and toward exchanges. Continue reading …

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Fiscal Policy

Why a Financial Transaction Tax Is a Bad Idea

This article was originally posted on TabbForum here By Holly A. Bell Former Secretary of Labor Robert Reich claims financial transaction taxes are simply sales taxes on Wall Street traders and won’t harm markets or cause capital to flee. Yet studies of FTTs in other countries show they harm Main Street and distort markets. Former …

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Stock Market

My latest on CNBC: Why the SEC should just say ‘no’ to IEX

By UCLA Professor Avanidhar Subrahmanyam and University of Alaska Professor Holly Bell   Since IEX submitted an application last year to the SEC to become a public stock exchange, a big debate has erupted about a seemingly small time frame — 350 microseconds. IEX’s proposed exchange would implement an intentional delay of 350 microseconds to …

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