Nurses Support Financial Transactions Tax

Linda Beale, Business Insider, May 19, 2012 Perhaps the JPMorgan Chase debacle has caught enough attention to alter the debate. JPMorgan of course claimed to be entering a type of hedge that would be permitted under the Dodd Frank reforms. (Apparently there were hedges on overall portfolio positions, and then those hedges were themselves hedged writing credit default swaps.) The authors of the legislation beg to differ, noting that the statute was drafted to permit hedges of specific asset but not portfolio-wide hedging practices that become almost indiscernible from speculative "bets" on the direction of markets. ... Nurses