Comment for Proposed Rule 76 FR 71626
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Comment No:
57297
Date:
3/25/2012
Comment Text:
To whom:
I am aware that the 2000 Republican Congress opened speculation to hedge funds, mutual funds, individuals and Wall Street. I am also aware that you have a right to limit speculative input. Senator Nelson of Florida is awfully hot about this issue because it is putting the brakes on a full economic recovery. I am more than hot. I have just written a letter to the Tampa Bay Times urging everyone to write you to put a limit on speculation to $10,000 in any given month. You should've already done this if you had a sense of rightness, and a spine.
Instead, you have allowed Wall Street and the aforementioned to throw a hundred million plus at any given time to influence the market to go long. Don't you think it odd that with gas usage down, and a bountiful amount of oil available that prices are still going up?? I think the CFTC should be eliminated from overseeing oil and gas completely. Let's return to prior 2000 and allow only those who use the most oil/gas to speculate, like airlines and freight companies.
In the meantime, limit all speculation to a limit of $10,000 and watch the price descend over a dollar. We should not have to suffer for your lack of gumption, whilst you prey on the unknowing little guy.
Donald Hayes
