Comment Text:
My commute is 50 miles to work and I really feel the increases in the price of gas.
I urge you to curb excessive gambling in commodities markets like food and oil.
I recognize that there are valid reasons for businesses to trade in futures, to minimize risk in prices for those businesses who use these commodities as raw materials for their products. But speculation needs to be tightly regulated to give these users a level playing field.
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.
I urge 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.
The CFTC should not allow exemptions or exceptions that undermine the rule, and should not give any exemptions to banks, hedge funds or other financial players.
