Comment Text:
My wife, Sandy, and I are retired and have a very difficult time surviving on our fixed income. The rapidly rising price of food and heating fuel has forced us to eat a less and less nutritious diet. Others we know are forced to choose between home heating and necessary medicine.
We 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.
We are counting on the CFTC to enforce strong regulations to protect the most vulnerable in our society against those who would enrich themselves with no thought of the concequences.
We strongly believe that 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 so much for your help in this serious problem.
