Comment Text:
Beverly Scott
19374 River Road
Leavenworth, WA 98826-9260
March 26, 2011
David Stawick
Secretary, Commodity Futures Trading Commission Three Lafayette Centre
1155 21st Street, NW
Washington, DC 20581
Dear Mr. Stawick:
Excessive speculation hurt the economy in 2008 and, once again, is harming the economy in 2011. According to data recently released by the Commission, speculators have raised their positions in energy markets by
64 percent compared to June 2008, bringing speculation to the highest level on record.
Time is of the essence, and I urge the commission to act quickly. Our pocketbooks and the broader economy depend on it. I support implementing tough new rules to put an end to excessive commodities speculation, urging the commission to adopt speculative position limits that protect American consumers and our economy from the volatility and high prices that excessive speculation causes. Efficient, rational commodity markets need effective position limits, transparency and a regulator that guards against market distortions caused by excessive speculation. Targeting fraud and market manipulation should a top priorty and the commission should make it so.
Sincerely,
Beverly Scott
5097630102
