Are giant trading houses too big to fail?
The proposed merger of Glencore and Xstrata is the biggest move yet in the rapid consolidation of the commodity traders who control everything we consume. An Enron style collapse would have global ramifications.
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Comments PolicyCommodity prices and speculation have a huge impact on world economies, some more than others (Australia for example). (Are giant trading houses too big to fail? October 10.) So of course traders should be tightly regulated along with financial houses. Why is it even a question?
Nothing in this world is too big to fail...if the likes of Goldman Sachs go belly up 80% of the world's population won't lose a dime because they have no assets with Goldman or exposure to derivatives (Are giant trading houses too big to fail? October 10). However, the 1% with huge exposures, will suffer greatly...let the chips fall where they may..it's only a matter of time.