Comment Text:
My name is Theresa O'Brien. Between my husband and me, we drive a total of at least 160 minutes to and from work every day, so our family feels the effects of every increase in the price of gas. If I add in my three working children going to and from work each day the number is much higher! It is out of control that we are held hostage by commodity prices just in order to work and feed our families.
Therefore, I please urge you to curb excessive gambling in commodities markets like food and oil.
Although 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.
Hence, please note that speculation imposes financial hardships on all families around the country. Sudden rises in gas and food prices force all of us to make difficult decisions and sacrifices. Please take into consideration that now more than ever, with so many families struggling, and unemployment barely beginning to decrease, we cannot allow speculators to unduly affect our food and gas prices.
In conclusion I am strongly urging that you 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. My request is simply that 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.
My family and I truly thank you for your consideration.
Theresa O'Brien
