Hardest hit would be the computer-driven high frequency trading that makes up about 55 percent of all trading on U.S. stock markets. Such warp speed robot trading played a role in the May 2010 "flash crash" and there are growing concerns that it could cause the next "Big One."
It's time for Wall Street to pay reparations for the financial collapse it caused. It's time for a crash tax, a tiny sales tax on Wall Street transactions, the revenues from which would pay for Main Street restoration.
Wall Street banks have been saved from bankruptcy by governments that are now going bankrupt themselves; but the banks are not returning the favor. Wall Street needs to be made to pay its fair share, but how?
The response to volatile markets is not plain-vanilla financial products, but more complex products that use market mechanisms to cope with uncertainty. Plain vanilla can be as ugly as adjustable-rate mortgages.