Comment Text:
Dear CFTC,
A loaf of whole wheat. A gallon of gasoline. A pair of Levi’s. Americans are paying more for many basic items this year, making tough economic times even tougher. Part of the reason, according to The New York Times, is that speculators are still playing games in the marketplace.
Please act quickly to protect American consumers. We need your help desparately!
On any given day about half of the oil futures contracts are bought and sold by traders, not companies that use oil, like airlines and power companies. And the sky’s the limit when it comes to how much of the market traders can control.
Please stop the manipulation of commodities prices which will stop speculators from interfering with the price of food and energy by imposing meaningful position limits.
Sincerely,
Richard Clark
September 28, 2011
