Relevant:
- Fed rethinks move allowing banks to trade, handle physical commodities
- Maguire - There Is Absolutely No Physical Gold For Sale on Smash-Down
- Insight: Wall Street, Fed face off over physical commodities
- Maguire - Physical Gold In Massive Bull Market
- "What Scares Me Isn't $2 Billion Loss JP Morgan Made, What Scares Me is the Record $19 Billion in Profits"
2008-08-08 — reuters.com
High fuel prices, tightening credit conditions and unprecedented market imbalances threaten to stymie investment banks looking to fatten their oil trading profits by expanding into physical markets.
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... it highlights the uphill struggle that peers such as JP Morgan, Merrill Lynch or Barclays Capital face in cracking the market for physical oil, which requires a commitment to capital-intensive storage facilities, long tanker voyages and a large, specialized back office.
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