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Comment for Proposed Rule 75 FR 4143

  • From: Maneesh Pangasa
    Organization(s):

    Comment No: 9530
    Date: 4/8/2010

    Comment Text:

    10-002
    COMMENT
    CL-00530
    From:
    Sent:
    To:
    Subject:
    pangasamaneesh@gmail, com
    Thursday, April 8, 2010 12:34 PM
    secretary
    Proposed Federal Speculative Position Limits
    Maneesh Pangasa
    3562 South 18th Avenue
    Yuma, AZ 85365-3937
    April
    8, 2010
    CFTC Comments
    Dear CFTC Comments:
    I am writing in support of the CFTC's Proposed Federal Speculative
    Position Limits that will reestablish speculative position limits on maj or
    energy commodities. This rule will provide stability to the marketplace
    and help prevent future price bubbles. The CFTC must quickly approve a
    strong rule to protect America's struggling economy.
    Wall Street's speculative trading in oil not only hurts the economy, but
    hurts every American who pays excessive prices at the pump, for groceries,
    home heating oil and everything related to transportation.
    Our tax dollars were used to bail out large Wall Street firms when they
    were on the brink of bankruptcy. It is these same institutions who gamble
    on oil and who continue to profit at every American's expense.
    We need financial safeguards in place not just for shareholders/investors
    of companies to guard against accounting scandals and corporate fraud but
    to protect consumers and to end too big to fail so taxpayers never have to
    bail out big companies that run the risk of failing again. I encourage the
    CFTC to adopt the Proposed Federal Speculative Position Limits before
    volatile fuel prices further harm the country's already weakened economy.
    Sincerely,
    Maneesh Pangasa
    9284468999