Nurses vs. High-Speed Traders | Why would nurses get mixed up in an issue like that?Quicklink submitted by Amanda Lang Permalink
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|Of all the street actions leading up to the NATO summit, the one that might seem most perplexing is a nurses' rally for a tax on securities trades. Financial markets are pretty remote from hospital bedsides, you might think.
Why would nurses get mixed up in an issue like that? RoseAnn DeMoro, executive director of National Nurses United, says there's a simple explanation: "The big banks, investment firms and other financial institutions, which ruined the economy with trillion-dollar trades on people's homes and pensions and similar reckless gambling, should pay for the recovery."
Nurses have been on the front lines of the crisis, seeing firsthand the health impacts of skyrocketing poverty and record high rates of uninsured Americans. Their specific tax proposal: a small fee on each trade of stocks, derivatives and other financial instruments. Even at a rate of 0.5 percent or less...
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