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Senate Scrutiny of Potential Risk in Markets for Commodities


Wall Street’s lucrative commodities businesses came to the fore here Tuesday as a Senate panel questioned whether banks should be allowed to control warehouses, pipelines and other infrastructure used to store and transport essential goods.

The hearing, convened by the Senate Financial Institutions and Consumer Protection subcommittee, came as Goldman Sachs, JPMorgan Chase and others face growing scrutiny over their role in the commodities markets and the extent to which their activities can inflate prices paid by manufacturers and consumers. The Federal Reserve is reviewing the potential risks posed by the operations, which have generated many billions of dollars in profits for the banks...