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Citigroup Executive Concludes Speculators and Commodity Index Funds Distort Markets, Drive Up Prices

A Citigroup vice chairman has concluded that financial flows - including commodity index funds - distort commodity markets and drive up prices for American consumers and businesses.

Peter Orszag, vice chairman of global banking at Citigroup, has written a Bloomberg View column in which he notes that "financial flows (including index funds) can, over brief periods, exert a noticeable destabilizing effect."