into goldman sachs and morgan stanley became major players. there were years when goldman sachs and over a billion dollars from commodities trading bubble. the commodities. falling and sears. the banks the speculators realized that oil especially crude oil was a fungible good. kind of substitute for money if you will. the most fungible good is money which is traded around the world but why don't you next come crude oil petroleum gasoline out of but it's also bought and sold all over the world the banks used oil as a way to engage in speculation. this because if. the financial industry had free rein they traded in future is legally binding contracts without ever seeing so much as