This is a little worrying if true - Brokers that are issuing guidance on oil prices heavily invested in oil futures

I meant to blog this yesterday but got really busy and forgot about it. The subject came up during E.D. Hill's show on Fox News.

The claim that was made was that firms such as Lehman Brothers and Morgan Stanley which have recently issued guidance on oil futures which have contributed to some price spikes in crude oil are heavily invested in oil futures and stand to benefit when the price of oil goes up. In other words they have a conflict of interest.

If true then they should be taken out back and gang-raped by sex crazed baboons until dead. I have said before that I am generally for open markets with minimal regulation, but preventing market manipulation by those with a conflict of interest is one of the regulations I do support.