Comment Text:
I am Catherine W. Patterson. I have always planned my life to use as little gasoline as possible, and live only 10 minutes from work. I can telecommute on many days. Nevertheless, the increases in fuel have had a dramatic effect on my family, along with everybody else. It has raised food prices, other commodities, and forces us to rethink vacations, among other effects.
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.
OR feel free to edit it and add your perspective on the impacts of food and oil speculation:
A. We cannot afford a repeat of the 2008 food and gas price bubbles, so the CFTC should put in place strong position limits to control excessive gambling.
B. 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.
