They'll do anything they think they can get away with.
We have so many posts on Goldman and the oil markets it is easiest to do a Google search of the site:
site:climateerinvest.blogspot.com goldman sachs oilFrom Bloomberg via Wall Street Pit:
Oppenheimer’s Fadel Gheit appeared on Bloomberg Television with Margaret Brennan today to discuss the oil and gas market.Here's Bloomberg TV:
Gheit talks about Goldman Sachs (GS) and Morgan Stanley (MS) manipulating the oil market and that it is “a shame on the government that allows them to get away with that.” Excerpts from the interview can be found below, courtesy of Bloomberg Television.
Gheit on Morgan Stanley and Goldman Sachs changing their positions on oil yesterday:
“Unfortunately, without repeating the names of the brokers, everybody knows who the usual suspects are. These are the people in 2008 that were making a bet on $200 oil.”
“This is another form of market manipulation in my view. It is in another form of basically pushing the envelope. What you are saying or doing is not illegal, but they are allowed to do it. The government has a responsibility to slap them hard.”
Gheit on whether he thinks the notes out of Morgan Stanley and Goldman Sachs are market manipulation:
“The interpretation will be left to the market. It is a self-fulfilling prophecy. They can invent reasons why oil prices go to $130 or $150, but history has shown that these people are able to move markets. It is not Exxon or BP or Shell that moves the oil markets. It is the financial players. It is the Goldman Sachs, the Morgan Stanley, all of the other guys. It is a shame on the government that allows them to get away with that.”...MORE
