Well Pim, what we've seen from a lot of folks, particularly on the democratic side, it's kind of a broad, wide-ranging transaction tax.

Pim，我們已經看到許多人，特別是民主黨這邊認為這是一個擴大範圍的交易稅。

What the Clinton campaign will be announcing today, according to officials I've spoken with, is a more targeted-version of that.

根據跟我討論的官員說法，今天希拉蕊將要公布的競選計畫會是一個目標更明確的版本。

What they're gonna be targeting is excessive order cancellations, and the idea being that in high frequency trading,

他們將針對高頻交易的過度消單課稅，這是因為在這個漏洞裡，

what you're trying to do basically is get out in front and then cancel as a way to profit. So, where (does) this come from, in large part?

基本上快速先行下單，然後取消訂單，藉此獲利。所以，這個計畫是怎麼來的？

It's from Gary Gensler and his team inside the campaign, if you remember, Pim, Gary Gensler is the former CFTC chairman,

這個計畫是競選團隊的 Gary Gensler 小組擬定。Pim，如果你還記得的話，Gary Gensler 是美國商品期貨交易委員會前主席。

who took an interest in high frequency trading while he was there, and that's a key component of this plan.

他在任職主席時，對高頻交易就非常關心，所以這也是促成這個計畫的關鍵原因。

Another issue to look at here, Pim, is the Volcker Rule. Obviously we all remember from the 2010 Dodd-Frank act, Hillary Clinton will be targeting hedge fund,

Pim，另外一個議題是沃爾克法則。我們都還記得2010年的多德-弗蘭克法案，希拉蕊將會針對避險基金下手。

specifically how much banks can invest in them at this point, the level is 3%. She would eliminate that entirely.

特別規範銀行可以投資多少避險基金，現行規定是現有資本的3%。希拉蕊想要廢除這個法案。

That's the financial regulatory side of this proposal, then you have the enforcement side of the proposal,

這是對於這個提案的金融概念，然而還有這個提案的實際執法方法，

but it's the regulation, I think, that will get most interest on the campaign trip.

不過我想，光是這個政策概念就會在這場選戰中吸引許多關注。

So is this... you give something, you take something away at the same time for the industry?

所以這像是...你同時給予又拿走這個產業的某樣東西？

I think what's interesting about this, Pim, is she doesn't go as far as her key opponents.

Pim，我想有趣之處在於希拉蕊並沒有像她的關鍵對手一樣做的很透徹。

If you look at Bernie Sanders, if you look at Martin O'Malley, the former Maryland governor who're on the democratic side advocating for breaking up the banks,

看一下她民主黨的競爭對手 Bernie Sanders 和前馬里蘭州州長 Martin O'Malley，他們支持分拆銀行，

or reimposing the Glass-Steagall, the separation between commercial and investment banking.

或是恢復格拉斯-斯蒂格爾法案、分開商業銀行跟投資銀行等政策。

Hillary Clinton doesn't go that far, what her team's point is is this-- this is a more nuanced approach to it.

希拉蕊並沒有這麼做，她的團隊認為這樣是一個更低調、有內涵的做法。

If you have a strong Volcker Rule, if you keep banks from holding their swap portfolios in subsidiaries that carry insured deposits,

如果沃爾克法則還存在，如果防止銀行擁有子公司持有的保險存款投資組合，

that is more effective in today's banking sector than reimposing a Glass-Steagall,

今天的銀行部門會比恢復格拉斯-斯蒂格爾法案還要有效率，

but you've already seen Martin O'Malley come out and attack Clinton on this proposal saying it's not going far enough.

但你已經看到 Martin O'Malley 跳出來抨擊希拉蕊說這個提案做得還不夠。

You'll see similar things going forward. The big question that Hillary Clinton has faced from the left has been: "Is she too close to Wall Street?"

你將會看到類似的事情持續發生。希拉蕊現在面對左派最大的問題是：「她太靠近華爾街了嗎？」

"Is she a former New York senator, somebody who has aligned with her husband's administration,

「她是前紐約參議員嗎？想要跟她丈夫的施政一致？

too close to those who care about how Wall Street's doing?"

跟那些關心華爾街的人走得太靠近？」

This plan is an attack on certain aspects of Wall Street, but the big question on the democratic side, Pim, would be: "Does it go far enough?"

這個提議對於華爾街某些層面是個打擊，但民主黨這邊的問題是：「這個提案是否已經足夠？」

Right, and of course we have the debate coming up next Wednesday in Las Vegas, the Democrat Debate.

當然，在下星期三拉斯維加斯會舉辦一場民主黨的辯論會。

Alright, so how about the debate in the house over who's gonna be the next leader?

那討論誰會是下一任眾議院議長，你的看法又是如何？

Well that's moving on as we speak right now, there've been private meetings throughout the morning giving nominating speeches.

在我們討論的同時，也正在進行黨內候選人演說會議。

Paul Ryan, the well-liked and well-known chairman of the House Ways and Means Committee, giving the nominating speech for Kevin McCarthy,

知名而且受喜愛的美國國會稅務委員會主席 Paul Ryan，正在為現任眾議院多數黨領袖 Kevin McCarthy 發表候選人演說。

the current majority leader who is widely expected to win that vote today.

Kevin McCarthy 被大多數人認為會贏得今天眾議院議長候選人黨內選舉。

The vote will start at noon Pim, in a close-door meeting.

投票會在今天中午的閉門會議舉行。

It would be as old-school as it gets, paper ballot, lawmakers writing down the ballots would be numbered so there are no extra ballots there.

選舉的方式很老派傳統，紙本投票、國會議員記下每張選票號碼，所以不會有任何多餘選票。

The expectation remains. Kevin McCarthy will become the next speaker of the House,

大多數預期 Kevin McCarthy 將會成為下一屆眾議院議長，

but why the vote matters today is there's a group of forty really hard-lined conservatives who've already stated they will not support Kevin McCarthy in this vote.

但是今天的投票很重要，因為大概有四十位的堅持主張的保守人士已經表態不會在這個選舉支持 Kevin McCarthy。

That won't hurt him today, but on October 29th, the full house will vote on the speaker.

但這不會對他造成影響，但在十月二十九日所有眾議院議員，將會選出新任議長。

Kevin McCarthy needs 280 votes, that's where those votes will matter, Pim.

Kevin McCarthy 需要280張選票，那些選票就會是關鍵。