Comment Text:
Although I am nearing retirement age, I hesitate to do so and become dependent on a retirement income which may not keep pace with increasing food, gas, etc. prices. For us in the older middle class, these are very uncertain times and we need our government to do its job in regulating markets appropriately, so that some stability and security can return.
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, dozens of studies by respected institutions such as Princeton, MIT, Petersen Institute, University of London, Yale, the United Nations and the U.S. Senate have demonstrated that excessive speculation is partially responsible for this volatility. 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 lending your ear and consideration.
