Oppenheimer oil & gas analyst Fadel Gheit accuses Goldman Sachs and Morgan Stanley of manipulating the oil market in an interview with Bloomberg's Margaret Brennan and says that it's "a shame on the government that allows them to get away with that."
"Everybody knows who the usual suspects are. These are the people in 2008 that were making a bet on $200 oil...This is another form of market manipulation in my view. It is in another form of basically pushing the envelope. What you are saying or doing is not illegal, but they are allowed to do it. The government has a responsibility to slap them hard."