I used to work at Goldman's. This story doesn't surprise me at all. This is what all good bankers do. I think the story hasn't gotten attention because it is not a story. It is just how things work.
Much like Paul, most actual people are genuinely shocked about this. It is one hell of a story. The general population does not understand how markets work.
Billions are hungry. The streets are full of protesters worldwide. Retirement funds are gone. Markets are failing. Countries are failing. These are humans, who just want to eat. And for what? To turn $100 million into $200 million?
This is not "how things work". This is not "what good bankers do". This is what greedy sociopaths do. It is reprehensible and disgusting. These people are malicious and should be in prison.
Second - it is how things work. Not just in commodities, but in everything Goldman's does. There is always an angle which greatly reduces risk. That angle might be insider trading, advanced statistics, or just a rigged market. Goldman's is doing nothing illegal that I am aware of or anyone can prove. ...it is just how things work.
We don't know how bad it's gotten. If you really think it's reprehensible, it's well past time you (and other insiders, not to single you out) spoke up.