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John Oliver lambastes Goldman Sachs for screwing America without fear of jail

By Eric W. Dolan
Friday, July 26, 2013 0:23 EDT
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John Oliver (Screenshot)
 
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Thursday night on The Daily Show, host John Oliver launched a blistering attack on the big banks by noting an important change to the board game Monopoly: the jail is being removed.

“Yes, you heard right,” he remarked. “The game designed to teach children how capitalism works has removed the ‘go to jail’ option to reflect the financial system they’re going to grow up in, presumably replacing it with a ‘get yelled at by Congress and then go directly to the Cayman Islands’ option.”

Oliver explained that Goldman Sachs was able to manipulate the price of aluminum to their own benefit thanks to bank-owned warehouses.

“Goldman can bet on the future price of aluminum while simultaneously having the ability to goose the future price of aluminum if that’s something they’d find interesting or profitable,” he said. “In the stock market, that’s what known as insider trading. In the commodities market, that’s known as simply Thursday — or Monday or Tuesday or Friday or Wednesday.”

Though regulations force Goldman Sachs to move aluminum out of its warehouses, the financial giant simply moves aluminum from warehouse to warehouse. The artificial inflation of aluminum has cost American consumers more than $5 billion over the last three years.

“Now that you think about it, the new version of Monopoly is actually perfect, you just move pieces of metal around and around in a circle collecting money whenever you want and it’s guaranteed that nobody’s going to jail,” Oliver concluded.

Watch video, embedded via Comedy Central, below:

Part One:

Part Two:

Eric W. Dolan
Eric W. Dolan
Eric W. Dolan has served as an editor for Raw Story since August 2010, and is based out of Sacramento, California. He grew up in the suburbs of Chicago and received a Bachelor of Science from Bradley University. Eric is also the publisher and editor of PsyPost. You can follow him on Twitter @ewdolan.
 
 
 
 
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