Hilarious:

Goldman Sachs bets on the future price of aluminum while simultaneously goosing the future price of aluminum by creating a supply bottleneck in its aluminum warehouse.

John Oliver’s Arcane Details of Boron-Group Metals Pricing Update

(05:13)

Category: Commodities, Crony Capitalists, Federal Reserve, Video

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9 Responses to “The Daily Show on Goldman Sachs’ Aluminum Manipulation”

  1. scottinnj says:

    I guess we now know that Billy Ray Valentine and Louis Winthorp’s kids went to work for Goldman.

  2. DeDude says:

    I am sure that our “justice” system eventually will end up wagging its finger at them and saying “naughty, naughty naughty, we will have to confiscate half of your profits from this, so you can learn never again to be caught and exposed in the media we you do such things”.

  3. VennData says:

    This is one of the funniest things ever seen on TV.

    If you know someone who hasn’t seen it, jam it down their smelter

  4. Marc P says:

    @DeDude: Confiscate half the profits?

    I think you mean confiscate 5% of the profits in a well-publicized settlement deal, with a behind-the-scenes apology and an agreement to make it up by another government loan of $50 billion at 0%.

  5. GeorgeBurnsWasRight says:

    Anyone know if the major networks or CNN covered this story? I’m betting they didn’t. No wonder increasing numbers of people say they get their news from the Daily Show and Colbert Report.

  6. Giovanni says:

    I agree that while many trading rules were ignored for the sake of the story, this movie is one of the best educational pieces on how trading markets actually worked before computers and the bots took over.

  7. V says:

    Why has nobody gone to jail?

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