Sam S. Siegel was a Chicago produce wholesaler and trader at the Chicago Mercantile Exchange who with Vincent Kosuga cornered the onion futures market in the 1950s.
As a result of the manipulation of the onion market by Siegel, Vincent Kosuga and National Produce Distributors which saw prices drop from $2.75 per 50 lb. bag to 10 cents, Congress amended the Commodity Exchange Act to ban onion futures from trading.
- ↑ Vincent W. Kosuga, Sam S. Siegel, and National Produce Distributors. CFTC.
- ↑ The Secret Financial Life of Food: From Commodities Markets to Supermarkets. Google Books.
- ↑ Commodities:Odorous Onions. Time Magazine.