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Fire Walk With Me

(38,893 posts)
Mon Jan 21, 2013, 12:38 PM Jan 2013

Goldman Sachs bankers get rich betting on food prices as millions starve

Cross-posted from Occupy Underground.

Revolution News ?@NewsRevo

Goldman bankers get rich betting on food prices as millions starve
http://www.independent.co.uk/news/business/news/goldman-bankers-get-rich-betting-on-food-prices-as-millions-starve-8459207.html
… via @Independent
Retweeted by .


Goldman Sachs made more than a quarter of a billion pounds last year by speculating on food staples, reigniting the controversy over banks profiting from the global food crisis.

Less than a week after the Bank of England Governor, Sir Mervyn King, slapped Goldman Sachs on the wrist for attempting to save its UK employees millions of pounds in tax by delaying bonus payments, the investment bank faces fresh accusations that it is contributing to rising food prices.

Goldman made about $400m (£251m) in 2012 from investing its clients' money in a range of "soft commodities", from wheat and maize to coffee and sugar, according to an analysis for The Independent by the World Development Movement (WDM).

This contributed to the 68 per cent jump in profits for 2012 Goldman announced last week, allowing it to push up the average pay and bonus package of its bankers to £250,000.

(More at the link.)

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Goldman Sachs bankers get rich betting on food prices as millions starve (Original Post) Fire Walk With Me Jan 2013 OP
disgusting samsingh Jan 2013 #1
The have's oning war against the have not's. Now it's food then it will be the water......... nc4bo Jan 2013 #5
Occupy never died. Jackpine Radical Jan 2013 #6
As it should be.... nc4bo Jan 2013 #8
we need to remain vigilant samsingh Jan 2013 #10
break up the banks and Wall Street Angry Dragon Jan 2013 #2
See? Not hanging them was a mistake. aquart Jan 2013 #3
Is there any market the financial sector cannot turn to shit? n/t bluedigger Jan 2013 #4
One. Jackpine Radical Jan 2013 #7
ROTFLMAO. Thread winner without a doubt! Reminds me of a coalition_unwilling Jan 2013 #9

nc4bo

(17,651 posts)
5. The have's oning war against the have not's. Now it's food then it will be the water.........
Mon Jan 21, 2013, 12:44 PM
Jan 2013

The won't be satisfied until we are all corporate slaves living in corporate towns grateful for the crumbs off their tables.

Occupy will rise again.

nc4bo

(17,651 posts)
8. As it should be....
Mon Jan 21, 2013, 12:50 PM
Jan 2013

It is much easier to erect many buildings when the foundations have already been laid.





 

coalition_unwilling

(14,180 posts)
9. ROTFLMAO. Thread winner without a doubt! Reminds me of a
Mon Jan 21, 2013, 12:54 PM
Jan 2013

time when my father, having dropped out of the corporate rat race to acquire a small dairy farm, was asked by a national publication doing a 'Back to the Land' story why he had dropped out.

"I prefer cowshit to bullshit," my father replied without even the trace of a smile.

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