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Comment for Proposed Rule 76 FR 4752

  • From: Gnger Novstrup
    Organization(s):

    Comment No: 31868
    Date: 3/17/2011

    Comment Text:

    From: Gnger Novstrup [mailto:[email protected]]
    Sent: Thursday, March 17, 2011 12:52 AM
    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,





    Gnger Novstrup
    3132 Entrada Dr.
    6205 Hunter St.
    Ventura, CA 93003

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