Wall Street Trading In U.S. Fuel Credits Hurting Consumers: NYT

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Wall Street Trading In U.S. Fuel Credits Hurting Consumers: NYT

Wochit 0:30 mins

Wall Street banks, including JPMorgan, have engaged in speculative trading and stockpiled U.S. renewable fuel credits turning a federal environmental program into a profit stream, The New York Times reported. A JPMorgan trader pressed the bank to buy all the Renewable Identification Numbers it could, Prices for the credits spiked by as much as 20-fold between January and mid-summer....

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