‘Disaster Capitalism’: Goldman, Bank Of America Make Hundreds Of Millions From Texas Blackouts

Profits skyrocket during the Texas blackout for banks that trade in energy (most of them).

RIELPOLITIK

Source – zerohedge.com

  • “…According to the Financial Times, in the days when the Texas electric grid failed during last month’s polar vortex blast and which sent electricity prices to staggering levels, Bank of America made hundreds of millions of dollars in trading revenue “highlighting the upside for Wall Street from mayhem that knocked out power and heat across the state, industry executives and traders said”

Goldman, Bank Of America Made Hundreds Of Millions From Texas Blackouts

Who needs Enron when you have taxpayer-backed “banks.”

Whereas 20 years ago, it was Enron that made billions from the California electricity crisis (which it caused), a scandal which culminated with Enron’s scandalous and convoluted bankruptcy, this time it is pristine banks such as Goldman and Bank of America that made hundreds of millions of dollars in revenue as tens of millions of Texans were stuck in the dark.

According to the Financial…

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