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‘Too big to fail’ banks defend commodity manipulation accusations and carry on

Posted on 26 July 2013

The so-called “Too Big to Fail” (TBTF) Banks - Goldman Sachs (GS), Morgan Stanley (MS) and JPMorgan Chase (JPM) generated an estimated $4 billion in commodity revenues last year and now face growing pressure from a number of investigations into their operations, and as the Federal Reserve yesterday reviewed Wall Street’s right to operate in the Commodity markets.
Several experts told a Senate subcommittee Tuesday that allowing financial holding companies to have increasing control over physical commodities such as aluminum and oil could give them too much power over producers and manufacturers………………………………………..Full Article: Source


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