JP Morgan’s $2 billion loss (which may end up being $3 billion) points again to the importance of curbing speculative actions so that they don’t cripple the global economy. Taxing them and using the revenue for health care and education is tremendously wise and just. Even though it’s called the Robin Hood tax, it could be called the Biblical Justice Tax, the Hebrew Prophet’s Tax, or the Jesus Tax. All of those would reflect deep truths about money and how it should be used.
- JP Morgan $2bn loss: Q&A (telegraph.co.uk)
- JP Morgan $2 billion loss stirs memories of 2008 crisis (+video) (csmonitor.com)
- Robin Hood Tax: “The Banker” Video (the2012scenario.com)