Brokers Abandon Wall Street

Wall Street Journal:

The number of brokers bolting from Wall Street is on the rise amid slumping markets and diminishing fees -- a trend that could augur lasting changes in the way individuals invest.

Read the whole story: Wall Street Journal

Comments

[cdrach]

why does HuffPo direct you to the WSJ where you have to subscribe to it in order to get the article. Like I am gonna give Rupert a friggin dime.

[WorkingClass]

Parts of Wall Street should be set aside as an American Holocaust Museum.

[davidwayneosedach]

They can go to Dubai and make 4 times as much!

[InfinteShibumi]

Well, the men can.

[mikekc]

let them go to Dubai. They will lose the protections of our courts and laws, and most of all access to their bailout money.

[CA4OBAMA08]

The most important thing that needs to happen is we need to get rid of the Federal Reserve. It is a private corporation that has been stealing from American taxpayers since 1913.

www.endthefed.us

Go there. Sign up as a signature collector.

Help restore our nation to its rightful owners. . . . US.!

[Skeetshooter]

Wall Street locusts move on to greener pastures. No surprise, but not in my neighborhood!

[drymartini1]

why not move out of the neighbourhood then !!

[NevaforLeadership]

Interested to know how many people subscribe to the Wall Street Journal to read the rest of this article.

[InfinteShibumi]

If we could have just read a couple more paragraphs....

[joebaggadonuts]

I used to subscribe. Then Murdoch took over. Now I don't.

[vippy]

Brokers won't abandon Wall Street for long, they are working on bringing the oil prices up to $ 300
a barrell, rest assured.

[InfinteShibumi]

In the meantime they've departed for Dubai.

[BabblingBrooks]

Congress long ago created the corporate tax deferral to compensate for this competitive disadvantage. Under deferral, a company doesn't have to pay the U.S. corporate rate until it repatriates its earnings. It can retain them overseas or reinvest them abroad with no penalty. But if it brings them home or pays them as dividends, the tax bill comes due.

The German company faces no such quandary. It pays the Irish tax, and it's free to invest that money in Ireland or Germany or anywhere else. This territorial tax system, embraced by most of the world, eliminates the perverse incentive to hold money abroad that America's deferral system creates. Adopting a territorial system would be the most obvious and simplest way to eliminate the distortion that tax deferral creates. Alternatively, Mr. Obama could lower the U.S. corporate tax rate to a level that is internationally competitive.
WSJ.comom

[sheilaofmiami]

Corporate America already owns us all. No matter what we do, higher taxes and all, we are all slaves of the big corporations now. Obama is not going to run them all out of the country, he does not have the kind of power to do that, has anyone read about the legislation that has been flattened lately? Or the threats by mostly big banks to stop legislation?

Lowering taxes to compete with the rest of the world will put our gov't in bankruptcy, in about 1 minute.

THERE IS LITTLE HOPE OF A REAL TURN AROUND. WE ARE LOOKING AT MANY MORE YEARS OF SO CALLED RECESSION, WHICH IS A DEPRESSION AND NO ONE WILL BE SPARED.

[BabblingBrooks]

Whine whine whine. Bash corporations. Whine whine whine. Repeat ad nauseam.

It is Big Bro Government which is coming to own us all. That is the real cause of the economic problems.

[Tyler-Durden]

and when did "big bro" govt cause our problems? just 3 months ago? Or before that?

Corporate greed, lobbyist influence on corrupt politicians, and reconstructed laws which favor corporations and rob the public for the last 8 years are what have caused the mess we're in now.

govt control is needed to stop corporatism from enslaving our free nation, but it may already be too late. they don't need us anymore as a workforce, because they have the chinese. (somehow comunism is ok suddenly) they won't need us as a consumer market either, because, once again, the chinese will take over for us. we will be a 2nd world countyr soon enough, thanx to corporatism funneling our money away, and christian zealots using our military to fight their religious war with the muslims.

corporatism is what killed this nation and corporations deserve bashing.

[pueblocolorado]

Well Brooks, you've got a lot of reading to catch up on....you've been missing the point here.

[mikekc]

Free Market at work. Notice how Wall Street likes to cry and moan when it's impacted by reductions in the need for outdated skills like "brokering" transactions - which requires nothing more then knowing what program or web site to open and what buttons to push. Yet when Wall Street encourages offshoring, importation of labor, reduction of benefits, mass firings, etc. they just love to lecture us all about how in the end their cut-throat economic policies are strong medicine that will be good for us.

[BabblingBrooks]

Real, true, logic-based, factual solution: CUT TAXES IN AMERICA TO MATCH THOSE OVERSEAS!

Voila! No more incentive (government-induced) to move companies and jobs overseas!

[NedroidPrime]

Ok, and how will we continue to have a government? Who will build and maintain roads? What about the military?

I see you spam, but like a brook, you have nothing to say. Just making me want to relieve myself...

[joebaggadonuts]

Obtuse Reference Warning:::

Back From the Shadows Again.... http://www.lyricstime.com/firesign-theatre-back-from-the-shadows-again-lyrics.html

[BabblingBrooks]

Obama either doesn't understand economics or doesn't care...

[BabblingBrooks]

Brokers abandon Wall Street! And soon, if Obama keeps trashing companies in America, corporations will abandon America! Then what will we do? ?WHAT WILL WE DO?

"The President's argument is that U.S. tax-deferral rules make it more expensive for American companies to reinvest overseas profits at home than abroad. This, he claims, creates a perverse incentive for companies to "ship jobs overseas" and reduces investment and job creation in the U.S.

He's right, except that his proposals would only compound the problem. His plan would limit the tax deferral on income earned abroad by tightening the rules, limiting allowable deductions and restricting eligibility for foreign-tax credits. This "solution" is antigrowth, job-destroying, protectionist and unlikely to raise the tax revenue Mr. Obama predicts. Other than that . . ."
WSJ.comom

[Social Construct]

I would argue that corporate America has already abandoned the nation in a Benedict Arnold fashion.

[PlayTOE]

So where are these brokers going ? ? ? ?
(My bet is that the new wall street will be in Vegas out behind the casinos)

[RandVictims]

Is there a DNR on Capitalism? Can we afford to keep it's brain dead body on life support forever?