Independent UK: Goldman bankers get rich betting on food prices as millions starve

[marmar]

Goldman Sachs made more than a quarter of a billion pounds last year by speculating on food staples, reigniting the controversy over banks profiting from the global food crisis.

Less than a week after the Bank of England Governor, Sir Mervyn King, slapped Goldman Sachs on the wrist for attempting to save its UK employees millions of pounds in tax by delaying bonus payments, the investment bank faces fresh accusations that it is contributing to rising food prices.

Goldman made about $400m (£251m) in 2012 from investing its clients' money in a range of "soft commodities", from wheat and maize to coffee and sugar, according to an analysis for The Independent by the World Development Movement (WDM).

This contributed to the 68 per cent jump in profits for 2012 Goldman announced last week, allowing it to push up the average pay and bonus package of its bankers to £250,000. .................(more)

The complete piece is at: http://www.independent.co.uk/news/business/news/goldman-bankers-get-rich-betting-on-food-prices-as-millions-starve-8459207.html

[grahamhgreen]

1. Prosecutions would be appropriate.

[dotymed]

2. I would bet that before "they" prosecute Sachs for this crime,

"they" will legalize betting on food shortages. Recently, the U.S. legalized the practice of hoarding precious metals (copper) after decades of prosecuting people (banksters) for this. "We" were prosecuting this illegal activity as recently as last month....capitalism has gone beyond any hope of regulation. We are now a corporate owned entity (fascist system) that purposely profits from harming people.

[Wednesdays]

3. Ghouls

That's all I can say about them.

[bemildred]

4. The wealth of the few has always been founded in the hunger of the many,

since civilization began.

[MNBrewer]

5. This looks like a case for Madame la Guillotine!

[Fight2Win]

6. This is outrageous and unacceptable

We cannot just allow people to starve for Goldman Sachs record profits...enough is enough!

Martin Luther King Jr leads the way...

Our only hope today lies in our ability to recapture the revolutionary spirit and go out into a sometimes hostile world declaring eternal hostility to poverty, racism, and militarism.

We must move past indecision to action. We must find new ways to speak for peace in Vietnam and justice throughout the developing world, a world that borders on our doors. If we do not act we shall surely be dragged down the long, dark and shameful corridors of time reserved for those who possess power without compassion, might without morality, and strength without sight.

[Amonester]

7. What a bunch of selfish bastards!

Really????

These effin' leeches would look to profit from the destruction of this entire planet if they could.

Wait...