Same bank caught w/ their "thumb on the scale"

[Dot Com]

I'm beginning to wonder if we should entitle this sub-forum: "criminal justice/economy" instead?

Anyway, the same politician-backed, hustlers (GS) caught defrauding America AGAIN

Goldman Sachs Actually Holds Close To 25% Of The US Aluminum Supply, Maybe More - Forbes
(snip)

Goldman’s claim that it held only 3% of the world’s aluminum supply was utterly misleading. I now have determined that it holds in its own warehouses–the Metro subsidiary of Goldman Sachs some amount of aluminum that is less than 25% of the aluminum available for delivery in the U.S.

But, and hold your breath on this one, it could be that Goldman Sachs is holding extensive supplies of aluminum in non-Metro warehouses, warehouses it does not own itself, but belong to other owners.

How Goldman Sachs and Wall Street Manipulate Aluminum and Other Commodities - Economic Intelligence (usnews.com)

Americans have learned a lot in recent years about how our largest financial institutions make their money. But few would have imagined that a million and a half tons of aluminum – a quarter of the national supply at any given moment – typically sits in a network of 27 Detroit warehouses owned by Goldman Sachs. And hardly anyone would have thought that manufacturers seeking to purchase that aluminum might wait 18 months or more for delivery, while warehouse owners like Goldman Sachs collect additional rent, paid for by consumers of aluminum products ranging from beer cans to home siding.

This dovetails nicely w/ my other thread having to do w/ *cough* "economics/wall st"

http://www.usmessageboard.com/econo...eteering-and-money-laundering-on-wall-st.html

Matt Taiibi was right, these people:

The first thing you need to know about Goldman Sachs is that it's everywhere. The world's most powerful investment bank is a great vampire squid wrapped around the face of humanity

Read more: The Great American Bubble Machine | Politics News | Rolling Stone
Follow us: @rollingstone on Twitter | RollingStone on Facebook

 

[Dot Com]

7 "views" and no outrage? Must be Righties

Tea Partiers, OTOH, ought to be outraged because this is part & parcel of the crony capitalism they were correctly railing about. Well???

 

[Kimura]

7 "views" and no outrage? Must be Righties

Tea Partiers, OTOH, ought to be outraged because this is part & parcel of the crony capitalism they were correctly railing about. Well???

I find the whole situation atrocious and depressing.

 

[iamwhatiseem]

Not to make this political - but Dot already did (no surprise there)...there has never - ever - ever been a better friend to Wall Street than this administration. Not even close.
And if you don't know that - then you shouldn't even be posting in this forum.
Everything in this country is being extracted and consumed by corporatism...everything.

 

[dilloduck]

Republicans own Goldman Sachs ? Who knew ?

 

[Dot Com]

Not to make this political - but Dot already did (no surprise there)...there has never - ever - ever been a better friend to Wall Street than this administration. Not even close.
And if you don't know that - then you shouldn't even be posting in this forum.
Everything in this country is being extracted and consumed by corporatism...everything.

Thats why Democrats proposed financial reform legislation & the President nominated Sen. Warren to head the Democratically created CFPB

Sen. Warren (D) is pushing for the CFTC to enact the rules that were created > a year ago. Wonder who is pushing back against that as well?

UPDATE 1-CFTC should review aluminum market, US lawmaker says | Reuters

The request to firms to preserve relevant documents from the past three years appeared to stop short of a formal CFTC probe, one of the sources to receive the letters told Reuters.

Stabenow asked Gensler to clarify aspects of the CFTC's rule regarding metals warehouses located in the United States, whether it has a direct oversight role over the London Metals Exchange, and whether certain actions in the control of physical supplies might violate the U.S. Commodities Exchange Act.

Hope they don't destroy evidence like Halliburton did after Deepwater Horizon.

http://www.c-spanvideo.org/clip/4460800

Senate Banking Cmte. Hearing on Wall Street Reform
Securities & Exchange Commission Chair Mary Jo White and Commodity Futures Trading Commission Chair Gary Gensler update the Senate Banking Committee on implementing the Dodd-Frank Act to mitigate financial risk and protect consumers.

 

[iamwhatiseem]

Not to make this political - but Dot already did (no surprise there)...there has never - ever - ever been a better friend to Wall Street than this administration. Not even close.
And if you don't know that - then you shouldn't even be posting in this forum.
Everything in this country is being extracted and consumed by corporatism...everything.

Thats why Democrats proposed financial reform legislation & the President nominated Sen. Warren to head the Democratically created CFPB

Sen. Warren (D) is pushing for the CFTC to enact the rules that were created > a year ago. Wonder who is pushing back against that as well?

UPDATE 1-CFTC should review aluminum market, US lawmaker says | Reuters

The request to firms to preserve relevant documents from the past three years appeared to stop short of a formal CFTC probe, one of the sources to receive the letters told Reuters.

Stabenow asked Gensler to clarify aspects of the CFTC's rule regarding metals warehouses located in the United States, whether it has a direct oversight role over the London Metals Exchange, and whether certain actions in the control of physical supplies might violate the U.S. Commodities Exchange Act.

Hope they don't destroy evidence like Halliburton did after Deepwater Horizon.

cftc intro - C-SPAN Video Library

Senate Banking Cmte. Hearing on Wall Street Reform
Securities & Exchange Commission Chair Mary Jo White and Commodity Futures Trading Commission Chair Gary Gensler update the Senate Banking Committee on implementing the Dodd-Frank Act to mitigate financial risk and protect consumers.

Blah blah blah...semantics.
Meanwhile the upper 7% in this country has seen their wealth EXPAND by a whopping 28%!! Meanwhile the rest of the 93% have had their wealth decrease by 8%.
This administration has conducted the greatest trickle-down economic principles this country has ever seen. Right now the FED is still pumping $85,000,000,000 per MONTH into this same system that is having tremendous success in making the wealthiest richer while doing absolutely NOTHING for us.
Keep dreaming and drinking the Kool-Aid Dot.
It is about RESULTS...not proposals and talk and talk and talk and talk - what is the NET RESULT.

 

[Dot Com]

The House has had virtually ZERO cooperation w/ the President from day 1. We have > one branch in the gov't. Seems all Repubs want to do is say no then fund raise based on fear.

BTW- off-shoring middle-class jobs started waaay before Obama was President

 

[iamwhatiseem]

The House has had virtually ZERO cooperation w/ the President from day 1. We have > one branch in the gov't. Seems all Repubs want to do is say no then fund raise based on fear.

BTW- off-shoring middle-class jobs started waaay before Obama was President

Yes it did. And is continuing right along isn't it?
Face it Dot - the Obama is just like the rest of them. In fact worse.

 

[Dot Com]

ummm..... ok Thats why he just recently tied corporate tax reform (cuts) to creating middle class job security.

Back to topic- commercial banks raping the taxpayers

discuss...