22 Jan '13, 4pm

Goldman Sachs "gambling on hunger", @wdmuk estimates that bank made £251m from #food #speculation in 2012.

"Goldman Sachs is the global leader in a trade that is driving food prices up while nearly a billion people are hungry. The bank lobbied for the financial deregulation that made it possible to pour billions into the commodity derivative markets, created the necessary financial instruments, and is now raking in the profits. Speculation is fuelling volatility and food price spikes, hurting people who struggle to afford food across the world. The only thing that will stop banks gambling on hunger is tough regulation.”

Full article: http://www.ethicalconsumer.org/corporatenews/storyoftheda...

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