Comment Text:
Steve Polzin
133 e elm
Republic, MO 65738-1309
March 25, 2011
David Stawick
Secretary, Commodity Futures Trading Commission Three Lafayette Centre
1155 21st Street, NW
Washington, DC 20581
Dear Mr. Stawick:
Its seems to me that over the last decade that the economy is slowly not working for the middle class. i have had the same job for 33 years yet have not received a pay raise for almost 6 years. how much have prices went up in that time period? I'm am quickly finding my family struggling to just make ends meet. I have taken on a 2nd job just to stay afloat. I can't do this much longer as I'm almost 60 yrs old. Now with energy going thru the roof it won't be long before I won't be able to afford gas to drive to work. Please it's time for someone besides the people looking to line their pockets to do something for people like me. Its not all that great anymore to be an American. I spent over 4 years in the USMC for this country during the VM war and now the leaders only care about the rich and corp. its time! 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.
We need meaningful, effective speculative position limits to restore balance to commodities markets and ensure that they are connected to market fundamentals, so that they fulfill their price-discovery function properly and without distortions caused by excessive speculation. In particular, I:
• support the Commission's immediate adoption of spot-month speculative position limits; • urge the Commission to adopt effective back-month levels that will accomplish the legislative purpose of curbing excessive speculation; • urge the Commission to adopt single-month limits that are no higher than two-thirds of the all-months-combined levels; • urge the Commission immediately to adopt a position-accountability regime for the nonspot months in place of its proposed position-visibility rule; and • urge the Commission to adopt lower speculative position limits for passive, long-only traders.
Time is of the essence, and I urge you to act quickly. Our pocketbooks and the broader economy depend on it.
Sincerely,
Steve Polzin
4177667735
