Comment Text:
10-005
COMMENT
CL-01545
From:
Sent:
To:
Subject:
Jim Stathakis
Friday, April 9, 2010 1:05 PM
Metals Hearing
Position Limits Public Comments
Dear Sirs:
As an average American, I am very heartened to observe the CFTC taking
concrete action that I am hopeful will lead to the establishment and
vigorous enforcement of responsible position limits in COMEX silver
that do not exceed 1,500 contracts. While legitimate hedging
exemptions may be appropriate, I implore you to monitor such
exemptions for legitimacy so as to avoid a continuation of the
unjustifiable concentration in COMEX silver futures that your own
agency's reports indicate have persisted for several years.
Thank you for holding public hearings on this and related topics. You
have undoubtedly come under significant pressure from special interest
groups, but you appear to be approaching your important work with a
firm understanding that the American economy is best served when
markets are free, transparent and effectively monitored to prevent
price manipulation caused by undue concentrated short or long
positions. The thoughtfulness with which you appear to be conducting
your responsibilities demonstrates that government has a proper and
necessary role to play to promote the general welfare. Perhaps
others, in similar positions of authority, will follow your lead.
Keep up the good work.
Sincerely,
James Stathakis
Pasadena, California
