Barclays bank made nearly $800 million speculating on food
By Chris in Paris - Americablog
When central bankers talk about more quantitative easing to help spur markets, remember this. While millions around the world go hungry or pay more for food, the bankers are cashing on enormously on the crisis. Barclays is being named here but don't forget that both Goldman Sachs and Morgan Stanley also operate in this space.
There used to be rules against profiting from items like food but that became old fashioned and required modernization by the political class. If they can't make a single case out of losing trillions of dollars during the banking crisis, it's obvious at this point that the political class won't be interested in reforming this revolting business.
Read the whole article here