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U.S. Senators Elizabeth Warren (D-MA) and Sherrod Brown (D-OH) urged the Treasury Department to investigate whether, through involvement with a Panamanian law firm, U.S. companies and persons may have evaded tax obligations or facilitated money laundering and other illegal activity.

Commentary by Scott Cammarn

The Senate Homeland Security and Governmental Affairs Committee's Permanent Subcommittee on Investigations published a majority and minority staff report titled "Wall Street Bank Involvement with Physical Commodities." The report was released in conjunction with hearings, which are scheduled for November 20-21, 2014, regarding the physical commodities activities of bank holding companies. The report focuses on the role of banks and bank holding companies in the physical markets for commodities and related businesses. It presents case studies of the three largest U.S. bank holding company

The Senate Homeland Security and Governmental Affairs Committee's Permanent Subcommittee on Investigations scheduled a two-day hearing, titled "Wall Street Bank Involvement with Physical Commodities," to be held on November 20 and November 21, 2014. According to its release, the Subcommittee plans to examine the extent to which banks and their holding companies own physical commodities, such as oil, natural gas, aluminum and other industrial metals, as well as own or control businesses, such as power plants, oil and gas pipelines, and commodity warehouses. Subcommittee Chair Carl Levin (D-MI)