Goldman execs to get another grilling

Grill On The Market

Goldman Sachs executives will again come in for a grilling at a congressional hearing this Thursday.

The New York Times reports that two of the bank’s executives, along with executives from JPMorgan Chase and Morgan Stanley, will appear at a hearing that will examine the role that Wall Street banks play in the commodities markets.

The hearings are the culmination of a two-year investigation by the Senate’s Permanent Subcommittee on Investigations.

The hearings are likely to touch some of the same areas that were covered in an article in The New York Times about a Goldman-owned aluminum warehouse in Detroit, as part of its Metro International Trade Services. An investigation by The Times looked at manoeuvring by Goldman to unfairly take advantage of its role in both the commodities trading market and the physical commodities market.

To access the complete New York Times article hit the link below:

Goldman, JPMorgan and Morgan Stanley Executives to Be Questioned at Commodities Hearing

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