Comment Text:
Hi, my wife and I worked hard to provide for our basic retirement. As prices go up and our income stays the same, we become poorer and poorer. For younger, working people, one of the least respected jobs is to gamble with others money to the deterement of the majority of our American citizens. Making money while inflating food and fuel prices should not be allowed. Make these speculators get a real job that has some degree of ethics associated with it--we are tired of being taken advantage of.
I urge you to curb excessive gambling in commodities markets like food and oil.
While many factors contribute to today’s highly volatile commodity prices, it is clear that excessive speculation is partially responsible, as shown in dozens of studies by respected institutions such as Princeton, MIT, Petersen Institute, University of London, Yale, the United Nations and the U.S. Senate.
Speculation thus imposes financial hardships on families around the country. Sudden rises in gas and food prices force us to make difficult decisions and sacrifices. Especially right now, with so many families struggling, and unemployment barely beginning to decrease, we cannot allow speculators to unduly affect our food and gas prices.
Please put in place effective position limits rules, and do not allow them to be undermined by exemptions or exceptions, or allow Wall Street gamblers to escape them.
Thank you for your consideration.
