Comment Text:
Despite a clear directive from Congress to rein in excessive speculation, our watchdogs in Washington seem to be listening more to Wall Street, and not acting quickly enough to protect American consumers. Consider: 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 speculators from interfering with the price of food and energy. Tell the commissioners to stop listening to Wall Street lobbyists. Tell them to impose meaningful position limits.
Thank you
William K. Lederman
[email protected]
