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Commodities Briefing - Categorized | Market Moves, Trading more

At Senate, Wall St. and Fed feel heat over commodity trade

Posted on 24 July 2013

Wall Street’s multibillion-dollar commodity trading operations came under the political spotlight on Tuesday as a powerful Senate committee questioned whether commercial banks should control oil pipelines, power plants and metals warehouses.
The Senate Banking Committee hearing comes as Goldman Sachs, Morgan Stanley and JPMorgan Chase - which generated an estimated $4 billion in commodity revenues last year - face growing pressure from a number of investigations into their operations, and as the Federal Reserve reviews Wall Street’s right to operate in raw material markets………………………………………..Full Article: Source


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