Comment Text:
I live on Long Island, one of the most overvalued areas in the country, and have not had a raise in three years, despite the rising cost of food, oil, and a home. I have been greatly affected by the recession. Given the fact that on Long Island, one must drive everywhere, I keenly feel the effect of every rise in the price of gas.
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.
