Comment Text:
Like many Americans, I live in an area where we must rely on our own vehicles to get to work and to conduct everyday business and errands. When the price of food and gas are subject to unnecessary fluctuations as the result of falsely inflated prices, due to excessive speculation for profit, it unjustly burdens families who are already struggling as a result of the devastating effects of rampant market corruption.
Therefore, I strongly 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, simply because of market greed. 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.
I ask you to 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.
