Comment Text:
According to a recent article in The New York Times, speculators are still playing games in the marketplace. You, as regulators, allow them to wildly bid up the price for everyday items we need, like wheat, gasoline and heating oil. Click here if you have not already read The Times article.
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.
We must stop speculators from interfering with the price of food and energy! Stop listening to Wall Street lobbyists! Please seriously consider imposing meaningful position limits. Your attention to this matter would be greatly appreciated.
Regards,
Bruce Zessin
Orlando, FL
