The PSE's laudable plan to reduce transactions charges incurred by the buying and selling of Philippine stocks took a turn for the worse. The PSEi was enjoying a 5 year suspension of DST that would have been charged on every buy slip on local equities. They were just lobbying for the for further reduction in friction or slippage (or transaction costs) by lowering Sales Tax in half, when the 5 year moratorium on DST expired and the request to lower sales TAX was denied.
Stock market investors pay various fees aside from taxes: a broker’s commission ranging from up to 1.5% of the transaction cost plus VAT to a low of .25 of 1% of the transaction cost plus vat, transfer fee of P100 plus VAT, cancellation fee of P20 plus VAT, and the minimal clearinghouse fee of 0.0001 multiplied by the value of transaction.
I've watched the CNBC special, "House of Cards" twice and the conclusion I came to only reinforces what we already know but choose to forget: "capitalism is evil".
Mark Faber goes out of his way to interview a lot of people to try to get to the root of all this cdo subprime mess. In his quest for the truth, it was ascertained that former Fed Chairman Greenspan had a hand in making the cost of borrowing too cheap and encouraging people to spend beyond their means. 
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