Comment Text:
From: Tom Simonian [mailto:[email protected]]
Sent: Tuesday, March 15, 2011 3:18 PM
To: secretary
Subject: Implementation of the Dodd-Frank Reform Wall Street Act
Mr. David Stawick,
As an American citizen, I think that regulating the excessive speculation on commodity markets is incredibly important in making market prices less volatile. As the commission writes the regulations to implement the Dodd Frank Act, I would like them to take a few things into consideration.
Firstly, is the issue of defining commercial risk. I understand there are organizations like the American Bankers Association that would like to define this term in such a way that would allow banks to engage in risky trading and not be regulated. Financial risk should not be part of the definition of commercial risk.
Secondly, I would like the Commission to set strong position limits. I urge the Commission to set limits that not only crack down on manipulation but also on excessive speculation on food and energy commodities. I realize this will require stricter regulation, but I think the excessive speculation on food and energy commodities does more harm than good.
Thank you for taking these concerns into consideration and I hope that when the Commission finalizes the Dodd-Frank regulations it takes both the spirit of the law and the opinions of individuals into consideration.
Sincerely,
Tom Simonian
3343 22Nd St.
San Francisco, CA 94110
