"The investment bank Goldman Sachs, famously described in Rolling Stone as a “great vampire squid wrapped around the face of humanity,” is reaching into your pocket every time you pop open a can of soda, beer or juice. The bank and other financial players are moving aluminum from warehouse to warehouse to exploit pricing regulations, an investigation by The New York Times found. The moves add just a fraction of a penny more to the cost of each can. But add up the 90 billion cans the U.S. consumes each year, along with other aluminum needs, and pretty soon you’re talking very real money. The Times said that in three years, the manipulation by Goldman and other companies has cost consumers more than $5 billion." I have seen posts regarding this matter on the Local 104 page and on others, but it did not sink in as clearly for me as it does in this paragraph from the Indiana Business Journal. ALCOA and the Local 104 union jobs are important to Warrick County, and this "theft" of $5 billion dollars from the American public should be of concern to us. Bob, Esq.
Posted on: Wed, 24 Jul 2013 17:13:26 +0000
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