Jeff Merkley said "I find it fascinating that we have a variety of regulatory powers, but essentially despite those powers dispersed among a number of different agencies, we have a picture of companies, big banks, that have enormous assets being able to buy vast quantities of particular commodities and control of the distribution systems through pipelines, through offshore oil tankers, through warehouses, not only providing a huge amount of market information that is very advantageous in trading, but also in a sense to have a thumb on the scale in terms of supply and demand and be able to have some influence over the price." @ PoliticalQuotes.com

On the recordJuly 29, 2013

I find it fascinating that we have a variety of regulatory powers, but essentially despite those powers dispersed among a number of different agencies, we have a picture of companies, big banks, that have enormous assets being able to buy vast quantities of particular commodities and control of the distribution systems through pipelines, through offshore oil tankers, through warehouses, not only providing a huge amount of market information that is very advantageous in trading, but also in a sense to have a thumb on the scale in terms of supply and demand and be able to have some influence over the price.

Said by

Jeff Merkley

Democratic · Oregon

Source

congress.gov

Editor's note · Context

Merkley discusses regulatory failures in controlling market manipulation by large banks.

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