Comment Text:
10-002
COMMENT
CL-01976
From:
Sent:
To:
Subject:
[email protected]
Wednesday, April 14, 2010 1:34 AM
secretary
Proposed Speculative Position Limits on Energy
Irv Engel
22452 Bywater Rd
Lake Forest, CA 92630-3010
April 14, 2010
David Stawick
Secretary, Commodity Futures Trading Commission
Three Lafayette Centre
1155 21st Street, NW
Washington, DC 20581
Dear Mr. Stawick:
I am writing in support of the CFTC's Proposed Federal Speculative
Position Limits that will reestablish speculative position limits on maj or
energy commodities. This rule will provide stability to the marketplace
and help prevent future price bubbles.
The CFTC must quickly approve a strong rule to protect America's
struggling economy. Wall Street's speculative trading in oil not only
hurts the economy, but hurts every American who pays excessive prices at
the pump, for groceries, home heating oil and everything related to
transportation.
Our tax dollars were used to bail out large Wall Street firms when they
were on the brink of bankruptcy. It is these same institutions that
pushed the price of gasoline well past $4 per gallon in 2008 by gambling
on oil and continue to profit at every American's expense.
Sincerely,
IrvEngel
949 458 8732
