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Post by graybeard on Jan 19, 2009 7:07:07 GMT -6
Jan. 19 (Bloomberg) -- Morgan Stanley hired a supertanker to store crude oil in the Gulf of Mexico, joining Citigroup Inc. and Royal Dutch Shell Plc in trying to profit from higher prices later in the year, two shipbrokers said... www.bloomberg.comLessee, we loan money borrowed from Communist China to bail out bankers, who buy oil and hold it off the market, betting the price will go up, costing us more at the pump. Nice guys. GB
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Post by unlawflcombatnt on Jan 19, 2009 10:27:03 GMT -6
That's called hoarding. It's also called price manipulation, which, to the best of my knowledge, is illegal. It also violates the spirit, if not the actual letter of anti-trust laws.
Obama's 1st action needs to pursue action against any company that does this. And any real leader in our history: FDR, Teddy Roosevelt, Kennedy, Eisenhower, or Truman would have pursued immediate action over something like this. Maybe even Clinton would have done so.
But not our Obamamessiah, and his policy of "change" and "bipartisanship." (i.e., capitulation on any issue in favor of the rich.)
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