Comment Text:
To Commodities Futures Trading Commission
re: Proposed Rule 6 FR 4752 // 17 CFR Parts 1, 150 and 151 Position Limits for Derivatives
In your pending deliberations concerning the regulation of commodity markets, please implement strong limits on banks, hedge funds, and other businesses who gamble with commodities futures. Wall Street has proven to be entirely too centered on bottom line profits without regard for the businesses, farmers and people who buy food and energy.
The Wall Street gamblers have already made a mess of our economy and have been working on new bubbles so that they can extract more wealth from us all and from people all over the world. For many, this lost wealth will mean hunger, illness, loss of livelihood, political instability, and even death.
Deregulation has gone too far and the proposed speculation limits must be implemented to reduce excessive speculation and make for less volatile and more useful markets. This would benefit the general Welfare (see Preamble to Constitution. Also, establish justice, insure domestic Tranquility)
Sincerely,
Merrill Franco
Fresno, CA 93711
