Exchange. Its based in london and drives over 40 of n. Y. S. E. Profits. It has a business that deals, for instance, in financial derivatives. These are derivatives contracts tied to Financial Products like interest rates, and ice has been wanting to expand in that direction for a while. Reporter as for the n. Y. S. E. , its no secret that this year has been a tough one for the stock trading business. In addition, fewer companies are going public, so the i. P. O. Market has dried up. On a Conference Call, n. Y. S. E. Euronext c. E. O. Duncan niederauer was asked why not try to ride out the storm . Our responsibility to the shareholders was pretty clear. Our job is to create value as best we can in the near term, and position the company to be successful in the long term. I think this deal does that. Reporter this is not the first time ice has made a bid for the big board. Last year, it made a joint hostile bid with the nasdaq o. M. X. Group for the exchange. But that move was blocked b
Theyve given ground in previous budget battles. Thats one reason they are holding firm on higher taxes now. 1. 6 trillion in cuts. Where are the cuts . They are in bills that you, mr. Speaker, have voted for. Reporter and there were new calls for more tax revenue today. Warren buffett, vanguard founder john bogle, and financier george soros were among the famous names to call for a tougher estate tax. Their proposal would exempt couples with up to 4 million in assets from the estate tax. Above that level, estates would pay a 45 tax rate, rising to 50 or more on very large estates. Supporters say that would both bring in badly needed revenue and help protect our democracy. It works to reduce concentrations of economic and political power across generations, and those concentrations are antithetical to the basic premise, if you will, of the founding of our republic, which was that it was a land of opportunity. And i think that those concentrations also can play a significant role, concen
Theyve given ground in previous budget battles. Thats one reason they are holding firm on higher taxes now. 1. 6 trillion in cuts. Where are the cuts . They are in bills that you, mr. Speaker, have voted for. Reporter and there were new calls for more tax revenue today. Warren buffett, vanguard founder john bogle, and financier george soros were among the famous names to call for a tougher estate tax. Their proposal would exempt couples with up to 4 million in assets from the estate tax. Above that level, estates would pay a 45 tax rate, rising to 50 or more on very large estates. Supporters say that would both bring in badly needed revenue and help protect our democracy. It works to reduce concentrations of economic and political power across generations, and those concentrations are antithetical to the basic premise, if you will, of the founding of our republic, which was that it was a land of opportunity. And i think that those concentrations also can play a significant role, concen
Here we are at the eleventh hour, and the president still isnt serious about dealing with this issue right here. Its this issue spending. Reporter the president left his spokesman to respond that republicans were pushing a plan of fantasy economics that raised more revenues while also cutting taxes on the wealthy. What spending cuts have the republicans put forward . The proposal that weve seen is a twopage letter, and the much discussed second proposal is less than half a page. There is no specificity behind what the republicans have put forward. Reporter right now, the risk is rising that we will avoid the fiscal cliff, but end up with what some call a worst case outcome. We get some sort of hoaky deal thats put together with gimmicks and baseline adjustments and all that stuff. They get by the fiscal cliff without much damage. Wall street breathes a sigh of relief, but weve done nothing for the longer term debttogdp ratio. Worst of all, most of what they do will take effect immediat
Fiscal cliff deal by the end of they year. Maryland congressman Chris Van Hollen talked with our darren gersh, and began with an update on the status of the talks. Well, the good news is that the president and the speaker of the house are now in facetoface discussions. Its always better to be talking than not. The other development is that increasingly Congressional Republicans recognize that the position that they had staked out is unsustainable. One of the arguments we hear from some democrats is that the fiscal cliff isnt really a cliff, its more like a slope and you could gradually go down it and the withholding from tax wouldnt kick in for a while and the spending cuts wouldnt hurt the economy for a while. Do you think it is good idea to go over the deliver and it is more of a slope. No, i think would be a mistake to go over the fiscal cliff because it could set in motion lots of things that could be a drag on the economy. That being said, i think if its clear that the parties wer