Generation Bubble

Nonprofit Squeeze: Tax-Exempt Institutions Feel the Recession's Pinch

One would suppose these institutions held nothing but reliable, blue-chip stock on their portfolios, stock that, while certainly not generating spectacular returns, at least produced reliable ones. No, these nonprofits were after sexier stuff — all gamine gyrations of puts, calls, strikes and options. And I begin to speculate myself. I wonder if these nonprofits weren’t up to something altogether venal, exploiting their tax exempt status as a way of increasing their profit margin.