Comment Text:
I am Karolyn E. Roebuck. With ever upward moving and spiking gas prices, I thank God that I have only to drive a short distance to a Metro stop to and from work every day but the effects of these price increases are felt each time I fill up, While gas prices continue in an upward spiral, my federal salary was frozen. Rising oil prices not only affect gas but other ordinary, have-to-have expenses of daily living such as food and heating for our homes.
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. 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.
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. Gambling is not a game to be played on the backs of people. The stakes for humanity are too high.
Sincerely,
Karolyn E Roebuck
