Tuesday, July 23, 2013

Goldman Exploits

Goldman Sachs exploits pricing regulations set up by an overseas commodities exchange to make billions.  There are 27 industrial warehouses in Detroit and each day trucks shuffled aluminum between warehouses to fulfill the letter of the regulations.  This increases storage costs and consumers thus pay higher prices.  (NYT July 21 2013)
    Never have such brilliant people put their smarts to work for evil.  It is complex thievery, but thievery nevertheless.

No comments: