Reuters: Goldman Sachs enjoys inside track on U.S. crude-by-rail boom


While the role of Goldman Sachs (GS) in global metals markets has fallen under a harsh regulatory spotlight recently, it also has quietly enjoyed a "privileged front-row seat" to the booming business of shipping crude by rail, Reuters reports.

Through a minority stake in a small, privately-held Texas company, GS has financed the expansion of nearly a dozen train terminals, and its ownership "could provide the bank with valuable insight" into the shipping-by-rail market.

Private sector investments have long been a common part of merchant banking, but the stakes could attract scrutiny at a time of strong political pressure on Wall Street investments in commodities markets.

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  • rambler1
    , contributor
    Comments (1048) | Send Message
     
    Rolling Stone had it right they are a "vampire squid".
    20 Aug 2013, 05:28 PM Reply Like
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