The Richmond Federal Reverse is commenting on the outrage by parents and teeny boppers regarding the black market in Hannah Montana concert tickets.

From Reuters:

Soaring black market prices for tickets to see pop idol Hannah Montana have enraged parents and prompted probes by several states’ attorney generals, but the Richmond Federal Reserve says don’t blame market forces.

“Yes, it may be unfortunate that some little girls won’t be able to see Miley Cyrus (the real name of the performer who plays teenybopper Hannah Montana) in concert,” the Richmond branch of the U.S. central bank noted in an article on its Web site.

“The more fundamental issue is that promoters of the Hannah Montana series apparently haven’t priced tickets commensurate with demand, opening the door to a secondary market with much higher prices,” the Fed said.

The problem began earlier this month when scalpers were able to buy up large quantities of tickets for Hannah Montana shows, driving up the cost for parents and girls 6-14  years old.  According to the Wall Street Journal, during the first week of October, Hannah Montana tickets were selling at a higher price than Bruce Springsteen tickets.

The uproar has lead to state officials to begin investigations into scalping.

Read the full article by the Richmond Fed here.