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
|