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Comment for Proposed Rule 75 FR 4143

  • From: Michael J Johnson
    Organization(s):

    Comment No: 9592
    Date: 4/8/2010

    Comment Text:

    10-002
    COMMENT
    CL-00592
    From:
    Sent:
    To:
    Subject:
    michaelj .j [email protected]
    Thursday, April 8, 2010
    5:48 PM
    secretary

    Proposed Federal Speculative Position Limits
    Michael Johnson
    745 S. McDowell Blvd.
    Petaluma, CA 94954-4455
    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.
    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,
    MichaelJohnson
    707-763-7956