Comment Text:
I want to register a thought about this because I have watched the hearings and the saw the follow up discussions between Mr. Christian and Mr. Murphy. It's pretty obvious to me that Mr. Christian must have heard from the companies he has as customers that his testimony was not appreciated. Before the hearings it wasn't obvious to me that gold paper is leveraged at 100:1. The hysteria he showed attacking Mr. Murphy told the story loud and clear.
We have a problem. There is now very little confidence in all levels of government. I personally have no respect for media which is not pursuing truth instead of perception. I have a degree in journalism but am dismayed to hear many journalists say "Perception is reality." I know what they mean but the statement is false. Perception is not truth and from what I see government agencies are not pursuing truth either. Now that's a serious problem for this country. Our way of life cannot last with that belief at the core. Where are the kind of statesmen that founded this country today?
What will the CFTC do to curb favored investment banks from operating as a casino to the detriment of retail investors. Are you afraid of creating a "perception" that you think will damage the economy? If so, you should step down. I don't know who I could trust anymore. Maybe Bart Chilton. So far he's the one I would count on to pursue truth no matter where the chips fall. I hope there are more on your committee who will act for the citizens.
Thanks for the opportunity to make a statement to your committee. You should know better than I what limits should be. They should be at a level that does not allow anyone to manipulate the price. Manipulation is not discovery.
