Comment Text:
My name is Kathryn Kern-Levine. I live in a small Montana town where many people are forced to drive long distances to get to work and where salaries tend to be very low. The people here are tired of paying higher and higher prices...they know that the increases are due largely, if not completely, to Wall St. speculation. Many are moving their money to credit unioins from the big 6 banks. Few people trust corporations anymore and believe that we need strong leadership at the CFTC. It is imperative. I know that this administration and most before it don't care about us out here - but they do like to take our money, and they prefer to get every last cent.
In fact, Goldman Sachs was a driving factor in the privatization of Montana Power, and former blue chip stock that many Montanans used for their retirement. Many losts thousands, some hundreds of thousands, of dollars due to Goldman Sachs's interference. Our energy prices are still skyrocketing, and it's nearly ten years since "the big rip-off."
People are impatient out here and taking to the streets. The war on the poor is so blatant and cruel that few will ever vote for another republican.
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.
4. Click “Submit.”
