Goldman Sachs Likened to a ‘Giant Vampire Squid,’ as Democrats Ready Probe of Role of Banks in Aluminum Business
This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.
Democrats in Congress and their allies at the New York Times are preparing for another assault on Goldman Sachs, this one based on the claim that an aluminum warehouse owned by Goldman is increasing the prices of canned beverages.
A Democratic Senator from Ohio, Sherrod Brown, plans a hearing Tuesday and wants the Federal Reserve to get banks out of the warehouse business. The New York Times previewed the hearing with a 3,600-word article that ran at the top of its Sunday front page and that blamed Goldman for costing American consumers more than $5 billion over three years in higher costs for canned soda, beer, and other products.
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