Froomkin: Sen. Sanders Leak Made Media Jump on Oil Market Speculation

[1776Forever]

Media Squawked When It Should Have Jumped on Oil Market Speculation Coverage
Posted: 9/30/11 09:42 AM ET
Dan Froomkin

http://www.huffingtonpost.com/dan-froomkin/oil-market-speculation-_b_988694.html

Faced with some hot data on oil speculation, the media squawked when it should have jumped.

After firebrand Vermont Senator Bernie Sanders leaked confidential data from the Commodity Futures Trading Commission to the Wall Street Journal last month -- data that dramatically illustrated how speculators were dominating the oil futures market during the 2008 spike in oil prices -- other news outlets jumped on the story.

In the worst possible way.

The data, which exposed precisely how much Goldman Sachs, Morgan Stanley, and other Wall Street speculators dominated the crude oil futures market, was a big new lead reporters could have used to further explore the dynamics behind the staggering gas price increase that resulted in a huge transfer of wealth from ordinary Americans to the very rich.

.......

Awesome data - Love me some Froomkin and Sen. Sanders!

:applause:

[JohnWxy]

1. they also were speculating and urged clients to speculate in Food commodities

see; http://www.economics.arawakcity.org/node/618">The Food Bubble: How Wall Street Starved Millions and got Away with It


also:
http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=103&topic_id=592212">How Wall Street Speculation and Tax Avoidance are Starving Public Revenues


recommended!

[indepat]

2. But, but, but I seem to recall then-Secretary of the Treasury Hank Paulson

forcefully averring that no speculation was present in the price of oil. Maybe I misunderstood, but suspect that was but the tip of the iceberg of a veritable plethora of outright monstrous lies being dissembled by junior's administration for almost eight years. :shrug: :patriot:

[saras]

3. If NO speculation was involved, theentire market would have had to have been dismantled.

If he had said "no excessive speculation", it would be a legitimate (if stupid) Republican position. But you're right, it's a flat-out lie, with no respect at all for the people being lied to.