GOP Goal - Completely Bankrupt US Government. Explode The Debt To $30 Trillion If Necessary.

[hedda_foil]

38. Meanwhile, the banks have virtually cornered the market in physical commodities

As IDemo posted on Wednesday

http://www.democraticunderground.com/1014947779

Senate Report Criticizes Goldman and JPMorgan Over Their Roles in Commodities Market

Source: New York Times

A two-year Senate-led investigation is throwing back the curtain on the outsized and sometimes hidden sway that Wall Street banks have gained over the markets for essential commodities like oil, aluminum and coal.

The Senate’s Permanent Subcommittee on Investigations found that Goldman Sachs and JPMorgan Chase assumed a role of such significance in the commodities markets that it became possible for the banks to influence the prices that consumers pay while also securing inside information about the markets that could be used by the banks’ own traders.

Bankers from both firms, along with other industry executives and regulators, will testify about the allegations at hearings on Thursday and Friday.

The hearings will cover everything from the conditions at a Goldman-owned coal mine in Colombia to the airline fuel arrangements that Morgan Stanley struck with United Airlines.

Read more: http://dealbook.nytimes.com/2014/11/19/senate-report-criticizes-goldman-and-jpmorgan-over-their-roles-in-commodities-market/
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