Comment Text:
10-002
COMMENT
CL-02868
From:
Sent:
To:
Subject:
[email protected]
Tuesday, April 13, 2010
10:58 PM
secretary
Proposed Speculative Position Limits on
Energy
william pendergrass
1216 oakside court
raleigh, NC 27609-3565
April 13, 2010
David Stawick
Secretary, Commodity Futures Trading Commission
Three Lafayette Centre
1155 21st Street, NW
Washington, DC 20581
Dear Mr. Stawick:
I'm a 72-year old retired federal employee and retired Naval Reservist,
having served as an attorney in the Interior and Energy Departments and in
the Navy JAGC Corps, and I was also an Assistant Attorney General in
Colorado where I was Resident Legal Counsel at Colorado State University.
My first federal employment before entering the Naval service and training
at Officer Candidate School was as a Junior Assistant Bank Examiner with
the Federal Deposit Insurance Corporation. I strongly support the CFTC's
Proposed Federal Speculative Position Limits tol reestablish speculative
position limits on major energy commodities. Although I hold a college
degree in Business Administration I didn't serve 8 and 1/2 years of active
duty in the Navy to reward financial activity that isn't directly involved
in our nation's production or that doesn't create real national wealth.
For too long, individuals involved in financial speculation have had a
free rein at the expense of Americans who have been adversely affected by
that lack of regulation. Clearly, the future of millions of Americans and
their families is currently marked by uncertainty that directly results
from the free rein given to financial speculators. Clearly, it's time to
restore needed reform in this area so that millions of individuals in this
country can look forward to a more secure future. That's the future I
believe in and why I urge the CFTC to adopt the Proposed Federal
Speculative Position Limits.
Sincerely,
william pendergrass
9199810624
