Comment Text:
My daughter has a small consignment business. She is barely making a meager living for herself and her son. Another daughter and her family are building homes in Arkansas, and must travel many miles in their business, and in transporting their 3 children to school. Though they struggle to hold on (where others have gone broke) through the financial crisis, the cost of gasoline and food makes a huge difference for all of us, (I am retired),as our incomes are limited.
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.
Erma June Simpson
