Democrats want banks barred from carbon trading
21 Aug 2009
Goldman Sachs and JPMorgan Chase would be barred from a planned US carbon- emissions market or face trading restrictions under proposals by Democratic senators crafting climate change legislation.
At least nine members of the majority party say speculation by Wall Street banks may cause excessive price swings in the cap-and-trade system of pollution allowances at the centre of President Barack Obama’s plan to curb global warming.
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