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.

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

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

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?

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

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

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,

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

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

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

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

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

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,

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

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

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

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

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

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?"

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

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

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?"

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

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

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

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

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

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

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.

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

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.

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

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