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So, corrupt banks corrupted some politicians. Again. And, now I read that Goldman Sachs is literally hoarding aluminum in gigantic warehouses to manipulate the

So, corrupt banks corrupted some politicians. Again. And, now I read that Goldman Sachs is literally hoarding aluminum in gigantic warehouses to manipulate the market. I wonder when people start to realize that concentrating money like this is not a good idea.

Cushman 15y ago
The same system has capture of the media... so don't wait on it.
scottkduncan 15y ago
Sometimes, even GS finds itself on the wrong side of a bet. This certainly doesn't invalidate your point, but might give you the tiniest bit of solace. http://www.businessweek.com/news/2011-12-14/aluminum-glut-at-record-as-traders-bet-on-price-decline.html http://www.businessweek.com/news/2011-12-14/aluminum-glut-at... "Dec. 13 (Bloomberg) -- Aluminum stockpiles rose to a record and orders to withdraw metal from warehouses fell to a 15-month low amid speculation traders are adding to bets the commodity will extend its biggest slump since the global recession."
- ImprovedSilence 15y ago
  Maybe that's just what GS wants you to think. I'd be surprised if their thinking is that short term on their own bets. This is perfect for them, as it takes the heat off of them for stockpiling, but once AL does bounce back, BOOM, they own it all. Not sayin this is fact, or a deeply thought out theory, or that I know too too much about the subject, but I wouldn't say that current price of AL gives me much solace just yet....
  - yummyfajitas 15y ago
    Um, Goldman tends to focus exclusively on short term bets. That's why they won the financial crisis. If Goldman looks like they lost in the short run, they probably did. They'll take the losses, learn from their mistakes, and try to make it up next time.
ericdykstra 15y ago
You say the banks "corrupted" politicians, like those politicians were clean and just hung around with the 'bad banking' crowd one afternoon.
- rbanffy 15y ago
  It's still true that had the banks not bribeed them, they wouldn't have made this specifc decison that caused this specific mess.
- politician 15y ago
  Money is highly corrosive to one's morals, and banks have a lot of money. The relationship seems simple enough.
- UrbanPat 15y ago
  You have a point - corruption is endemic to Jefferson County politicians.

Cushman 15y ago

The same system has capture of the media... so don't wait on it.

scottkduncan 15y ago

Sometimes, even GS finds itself on the wrong side of a bet. This certainly doesn't invalidate your point, but might give you the tiniest bit of solace. http://www.businessweek.com/news/2011-12-14/aluminum-glut-at-record-as-traders-bet-on-price-decline.html http://www.businessweek.com/news/2011-12-14/aluminum-glut-at... "Dec. 13 (Bloomberg) -- Aluminum stockpiles rose to a record and orders to withdraw metal from warehouses fell to a 15-month low amid speculation traders are adding to bets the commodity will extend its biggest slump since the global recession."

ImprovedSilence 15y ago
Maybe that's just what GS wants you to think. I'd be surprised if their thinking is that short term on their own bets. This is perfect for them, as it takes the heat off of them for stockpiling, but once AL does bounce back, BOOM, they own it all. Not sayin this is fact, or a deeply thought out theory, or that I know too too much about the subject, but I wouldn't say that current price of AL gives me much solace just yet....
- yummyfajitas 15y ago
  Um, Goldman tends to focus exclusively on short term bets. That's why they won the financial crisis. If Goldman looks like they lost in the short run, they probably did. They'll take the losses, learn from their mistakes, and try to make it up next time.

ericdykstra 15y ago

You say the banks "corrupted" politicians, like those politicians were clean and just hung around with the 'bad banking' crowd one afternoon.

rbanffy 15y ago
It's still true that had the banks not bribeed them, they wouldn't have made this specifc decison that caused this specific mess.
politician 15y ago
Money is highly corrosive to one's morals, and banks have a lot of money. The relationship seems simple enough.
UrbanPat 15y ago
You have a point - corruption is endemic to Jefferson County politicians.