Comment Text:
From: Brian T. Gibbons [mailto:[email protected]]
Sent: Tuesday, March 15, 2011 8:39 PM
To: secretary
Subject: Implementation of the Dodd-Frank Reform Wall Street Act
Mr. David Stawick,
As an American citizen, I think that regulating the excessive speculation on commodity markets is incredibly important in making market prices less volatile. As the commission writes the regulations to implement the Dodd Frank Act, I would like them to take a few things into consideration.
Firstly, is the issue of defining commercial risk. I understand there are organizations like the American Bankers Association that would like to define this term in such a way that would allow banks to engage in risky trading and not be regulated. Financial risk should not be part of the definition of commercial risk.
Secondly, I would like the Commission to set strong position limits. I urge the Commission to set limits that not only crack down on manipulation but also on excessive speculation on food and energy commodities. I realize this will require stricter regulation, but I think the excessive speculation on food and energy commodities does more harm than good.
Thank you for taking these concerns into consideration and I hope that when the Commission finalizes the Dodd-Frank regulations it takes both the spirit of the law and the opinions of individuals into consideration.
Sincerely,
Brian T. Gibbons
9133 Edmonston Terrace, Apt 304
Apt 304
Greenbelt, MD 20770
