I've increasingly begun to believes that modern day banks are the new mafia. From today's NYT:
http://www.nytimes.com/2013/07/21/busine...ml?hp&_r=0
TL;DR:
Goldman-Sachs bought a bunch of aluminum warehouses. They fuck with the commodities markets by hoarding aluminum. To get around regulations prohibiting the stock piling of aluminum they just shuffle it back and forth between their warehouses.
To me that seems like scheme out of an episode of Sopranos.
Quote:Quote:
MOUNT CLEMENS, Mich. — Hundreds of millions of times a day, thirsty Americans open a can of soda, beer or juice. And every time they do it, they pay a fraction of a penny more because of a shrewd maneuver by Goldman Sachs and other financial players that ultimately costs consumers billions of dollars.
http://www.nytimes.com/2013/07/21/busine...ml?hp&_r=0
TL;DR:
Goldman-Sachs bought a bunch of aluminum warehouses. They fuck with the commodities markets by hoarding aluminum. To get around regulations prohibiting the stock piling of aluminum they just shuffle it back and forth between their warehouses.
To me that seems like scheme out of an episode of Sopranos.