Comment Text:
Mr. Gensler:
I support the new rules making prompted by passage of the Dodd-Frank Act. More specifically, however, I am concerned about the current rules in play for those speculators playing with our very lives through oil/gas derivatives.
We need, (and quickly), some changes in this arena! Transaction fees should be placed on each and every trade. These traders should also be required to take possession of their "purchases" within an established time frame.
I am not savvy re: the markets, and perhaps your staff could add ideas for effective means to accomplish the goal of reducing their ability to create such volatility in the oil/gas derivatives markets.
I realize, of course, the pressures of those who are currently making obscene amounts of money on this gambling scheme, to retain the status quo.
I will do my part by inspiring other citizens to visit this website, educate themselves, and increase the pressures through social media and other sites for these or similar changes.
Speculation in the commodities markets are a driving force in the creation of skyrocketing gas/oil prices, and we look to you to do your job and act on this promptly.
Thank you,
Carolyn A. Sumners
