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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Now if you knew why this was happening, then the next stupid question on my part is why hasn't anyone gone to jail. I know lets ask Matt Taibbi and the reporting he has been doing in Rolling Stone since 2009 on this criminal behavior and how justice was bought and paid for by these Wall Street criminals, and they wonder why the democrats lost in the last election, DUH ----go figure.
I know it has to do with the statue of limitations running out so all the major players don't get an indictment how god damn convenient don't you think 
