If you do nothing else today, read Matt Taibbi's new piece
by David Atkins
Seriously, just go do it. There's far too much there to excerpt, so I won't even try.
Suffice it to say that Goldman Sachs and friends have been busy buying up industrial commodities production. Which they then manipulate in order to goose the futures on said commodities while screwing consumers.
And it's all legal, by way of a footnote in the same deregulatory law that killed Glass-Steagall.
You know, the law that Bill Clinton signed. Go read.
I'm not the first to say it, but Goldman Sachs and J.P. Morgan are global criminal enterprises that provide no real value to the world economy. That most of the world's liquidity runs through them doesn't mean it must do so while they extract exorbitant corrupt rents. They can be broken up and defanged without damage to the economy. There just isn't the political will to do so.
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