Comment Text:
My name is Meg Campbell and I am retired, on fixed income and live in a rural area. I am far from town and have a long drive to get to the nearest grocery store. I feel every penny in the increase in the price of gasoline.
I urge you to curb excessive gambling in commodities markets like food and oil. We have regulation in the form of public utiliity commissions in states to provide for a FAIR and REASONALBE rate of return on, for example, electricity. Excessive specualtion is turning a valuable and necessary commodity into the whims of "las vegas type individuals".
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.
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.
Thank you for your consideration.
Meg Campbell
