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Senator urges curbs on banks buying commodities

Posted on 26 February 2014

Ohio Sen. Sherrod Brown on Tuesday said he pushed a pair of nominees for key regulatory posts to take steps to deter big banks from owning and storing oil, aluminum and other key commodities. Brown, chairman of a Senate panel that monitors financial institutions, has been urging regulators to crack down on behavior that could lead to higher prices for consumers.
Some large banks buy and hold commodities in a strategy that can lead to higher prices for things such as beer, canned food or fuel. Brown met with Chris Giancarlo and Sharon Bowen as they made the rounds among senators after their nomination to the Commodities Future Trading Commission. ……………………………………….Full Article: Source


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