The New York Times recently reported that Goldman Sachs has been profiting from artificially inflating aluminum prices. Goldman Sachs and others have been storing over a million tons of aluminum in warehouses in Detroit, creating a bottleneck in supply and inflating the price of aluminum.
The Senate Banking Committee held a hearing on this issue entitled “Examining Financial Holding Companies: Should Banks Control Power Plants, Warehouses, and Oil Refineries” on July 23.
Taking a lighter approach, The Daily Show’s John Oliver discussed these reports on July 25. Watch the first part here and the second part here.