Where the Money Is 11.20.2014
Industry Focus
The Motley Fool
4.6 • 854 Ratings
🗓️ 20 November 2014
⏱️ 12 minutes
🧾️ Download transcript
Summary
On today's edition of Where the Money Is, analysts Taylor Muckerman and Tyler Crowe cover the outskirts of energy.
Transcript
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| 0:00.0 | It turns out Congress has been doing more than just raising money for their next |
| 0:03.8 | re-election on where the money is. So Tyler, we're back, it's Thursday, energy |
| 0:12.1 | materials, kick off... |
| 0:14.0 | Interesting subject this past couple of weeks. A lot of stuff going on. |
| 0:17.0 | There has been a lot of stuff going on. You know, prices sliding, |
| 0:21.0 | not really passing it on to the consumer yet. |
| 0:24.0 | New elections, people wondering how that's going to affect the certain |
| 0:27.0 | industries, especially energy. |
| 0:28.0 | And one way we've seen is the Senate's actually |
| 0:31.0 | been doing some studies, surprise surprise, |
| 0:33.0 | surprise, surprise, digging into the Wall Street a little bit, something that |
| 0:39.0 | you don't typically see and they've unearthed some findings about some of the biggest |
| 0:42.4 | banks and the |
| 0:43.6 | entanglements with the commodities market that maybe investors aren't too |
| 0:47.9 | aware of and and maybe should be because it is kind of frightening. |
| 0:50.9 | Sure so you know normally we're an energy show so talking about Congress and the |
| 0:55.1 | banks doesn't seem to make a whole lot of sense here but what's going on is there was a |
| 0:58.0 | Senate probe that was looking into some of the major banks, you're Goldman Sachs, |
| 1:01.2 | J.P. Morgan's, and looking at their commodities |
| 1:03.8 | trading business. And what they are investigating is whether or not these |
| 1:08.6 | banks were using their knowledge of hard assets because they actually own things in the business. |
| 1:15.8 | For example, Goldman Sachs owns a Colombian mine and things like that, warehouses with |
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