Here’s an interesting bit of news for you fans of insidery financial white papers and/or demonizing rich guys in fancy suits: A federal trade panel is reversing course and blaming recent oil spikes on commodities speculators.
Of course, readers who get their hottt financial news from the pages of glossy monthly magazines already knew the score. Two years ago, Secretary of State Bill Galvin starting banging around hedge fund managers and other oil speculators. At the time, his allegations didn’t make much of a dent in the funds, though they did earn him a phone call with this reporter, which turned into this little bit in Boston mag a while ago.