Comment Text:
I have been working as a registered nurse for the past two years. Recently, I have become increasingly concerned with the ability of my patients, American Veterans, as well as all Americans, to obtain healthy, nutritious food. In my profession, the connections between human lives and social disparities are often laid bare, especially as our safety nets are strained and the most vulnerable are subject to disproportionate suffering and hardship. This past decade in the United States, we have seen time and again how decreased regulation leads to unrestrained speculation, artificially inflated prices and destabilized markets. I believe that access to the basic requirements of health is a human right. Clean water, clean air, nutritious food, education and healthy communities are the pillars of a great society, just as they are the pillars of a healthy individual. In 2010, more that 48.8 million Americans lived in food insecure houses, a 12 million person increase from 2007. That means over 16% of Americans of all ages suffer from food insecurity; having to choose between rent and food, utilities and food, health care and food. This is not freedom and choice this is desperation and despair. As a member of the Commodities Futures Trading Commission, you have the ability to establish position limits for commodities. The agricultural futures markets, including derivatives, were originally meant to help food producers, processors and end users fairly price products as well as protect against massive losses. The 2000 Commodity Futures Modernization Act eliminated many of these safeguards, thus allowing speculators to inflate prices to create profit. There is little doubt that after more than a decade of deregulation, this speculation definitely drives up the price of food putting it out of reach of many millions of people. This increased cost, especially during a recession caused by deregulation and unchecked speculation, is crippling to Americans who are struggling to get by. I support the Dodd-Frank Wall Street Reform and Consumer Protection Act in mandating stronger financial regulations. To protect Americans from being gauged by high food prices, the actions of traders in food markets must be restrained in size and quantity, thereby limiting the downstream effects on struggling families, veterans, and children. Stable derivatives markets benefit farmers, consumers, and our country. Please support strict regulations on agricultural commodities. Sincerely, Andrew P. O’Shea
