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Comment for Proposed Rule 75 FR 59666

  • From: Philip McBride Johnson
    Organization(s):

    Comment No: 26298
    Date: 10/18/2010

    Comment Text:

    From: Johnson, Philip McBride [mailto:PhilipMcBride.Johnson@skadden.com]
    Sent: Friday, October 15, 2010 9:56 AM
    To: agswapsANPR
    Cc: Heitman, Donald H.
    Subject: Agricultural commodity definition

    First, let me request a waiver of the "English-only" requirement, Thanks.

    To me, there is a natural link between §723(c)(3) of the Dodd-Frank Act (definition of "agricultural commodity") and §5c(5)(C) of the Commodity Exchange Act (instruments "contrary to the public interest"). In the latter provision, the Commodity Futures Trading Commission ("Commission") is authorize to forbid the listing of certain products if it concludes that they relate to matters that are abhorrent to American sensibilities (e.g., wars, terrorism, assassinations, etc.).

    Like every U.S. citizen, there are certain agricultural commodities that are abhorrent to me. Without prejudice to the right of other commenters to identify the foods that they most loathe, I recommend that the definition of "agricultural commodity" make clear that (like movie box office receipts and onions) the following are not "commodities" at all, perhaps by simultaneously revising §1a(9) of the Commodity Exchange Act accordingly:

    brussels sprouts
    cauliflower
    hummus
    any kind of duck except foie gras
    sweet potatoes
    honeydew melons
    grapefruit
    anything in a bottle called a "sports drink"
    clams (well, OK, if I don't have to watch)
    anything labeled as "cod"
    artichokes (well, OK, if I don't have to watch)
    anything with curry in it

    I truly hope that the Commission does not waste this rare opportunity to rid the world of these dreadful excuses for agricultural commodities, and I appreciate this opportunity to contribute to the Public Good.
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