Thursday, June 4, 2009

Goldman Raises Year-End Crude Forecast by 31% to $85

Yes, and Goldman will be one of the big reason it gets there, or higher, as it buys futures for its own account and pushes speculative behavior on the part of its clients. Nothing has changed. The financial crisis taught our policy makers nothing. Oil prices will have to go much higher before evoking a political response.

1 comment:

googleheim said...

does any one know if the FSLIC ( savings and loan version of FDIC )
in the 80's was funded by taxpayers or federal crediting of banks ?

many references indicate tax payers were on the hook for this Republican't fiasco of the 80's ...

but I just want to make sure since the FSLIC was finally abolished but not before being funded several times - either by taxpayers or by credits.

It would be ironic if this was actually paid for by taxpayers during a time that the glorious Reagan tax cuts created the very S & L crisis which taxed them to the gilt !!