The physical commodities activities of major banks such as Goldman Sachs (GS), JPMorgan (JPM)...

|About: Goldman Sachs Group Inc. (GS)|By:, SA News Editor

The physical commodities activities of major banks such as Goldman Sachs (GS), JPMorgan (JPM) and Morgan Stanley (MS) are set to be the subject of a Senate hearing on Tuesday, when legislators will explore whether banks should be allowed to continue to store metal, transport oil and operate mines. On Friday, the Fed said it's reviewing whether banks that take deposits should allowed to trade physical commodities. The Senate hearing and Fed review come amid an NYT investigation into how GS's activities have driven up aluminum prices.