http://www.bloomberg.com/apps/news?pid=20601087&sid=aQkKJvVJLVP4 http://www.ritholtz.com/blog/2009/07/the-wall-street-white-house/
Very misleading thread title. I read both articles and you are making one hell of a leap in coming up with "Goldman regulating oil futures". Please post a more honest representation of your articles in the future.
⢠Gary Gensler, Goldman Sachs partner, now Chairman of the Commodity Futures Trading Commission Note: It was Gensler who was a key proponent (as Clintonâs Assistant Secretary of Treasury) in pushing the Commodity Futures Modernization Act of 2000. One might also note the end mark ? ? means questioning.... If one thinks that GS has no influence to the regulation of oil futures then feel free to post....
Looks like only the largest players will feel the pinch.... However....what is going to get interesting are the hedging allowances for those who do not use the physicals....
Title of the thread has it backwards. They are going to regulate big players like Goldman, though like I said in the other thread, they are 2 years late.
....................................................................... You mean there is a traitor amongst their rank and file ?
http://www.bloomberg.com/apps/news?pid=20601087&sid=aUHZ0H2Pqtr4 Not this time ? Goldman Sachs and Morgan Stanley accounted for about half of the $15 billion in revenue that the worldâs 10 largest investment banks generated from commodities in 2007, Ethan Ravage, a financial-services industry consultant in San Francisco, estimated last year, as energy prices neared records. âA lot of what weâve seen in recent years has nothing to do with the underlying fundamentals of the market,â said Tom Bentz, a senior energy analyst at BNP Paribas Commodity Futures Inc. in New York. âSomething has to be done to reduce some of the speculation, no doubt about it.â And caused incredible and harmful financial damages to the developing non oil countries.... "Cap and Trade"..... IS "NEXT"..... So much for "American Style Fascism".... .................................................................................... The meeting and current oil price movement....related ? http://finance.yahoo.com/news/Oil-falls-near-62-on-recovery-apf-3596409424.html?x=0 The possible inability to reap the same havoc again....."causal for lower prices"...?
Okay, so the guy worked at Goldman for a while. We've all done things we aren't entirely proud of, but he was from the fixed income and currency division, possibly just some quant guy who didn't fully absord the market-wide impacts of the strategies until he got further entrenched into politics. That doesn't mean he's necessarily part of a giant conspiracy theory. He also has worked extensively with Obama and Clinton over the years, pushing to regulate the markets. Sure, in 2000 he didn't go far enough. But it looks like he's coming back to finish the job. Don't have to be so dramatic over everything, save it for when it has to count or it'll be less potent.
He is a Goldman Sachs partner, you dodo. You think he isn't part of the Goldman network? Yeah, just like Henry Paulson was not. If someone points a gun at you, do you wait till you get shot to derive that the person has intent to harm you?