Comment Text:
Dear Sirs:
My name is Paula J. Powers and I am disabled and was forced to retire. I live on Disability and Social Security payments that barely pay my mortgage. My son pays the remainder of expenses in the household and his hours have been cut at his place of employment due to the fall in the housing market and we can't afford the price of gas to get him to and from work-especially when he goes in and is told there is no work for the day. We can barely afford food. We can't pay our monthly bills if prices keep on going up. He can't find better work due to the economy bringing in no jobs in his field. He has a degree in computer engineering and can't find work at even entry level minimum wage so had to go back to driving trucks which, due to the cost of fuel, is becoming harder and harder for trucking companies to keep those trucks moving anyway. Basically, if the costs keep on going up we will end up homeless and hungry, and that for a woman who has worked and paid taxes all her life is unforgivable.
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.
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.
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.
