Comment Text:
Despite a clear directive from Congress to rein in excessive speculation, the Commodity Futures Trading Commission seem to be listening more to Wall Street, and not acting quickly enough to protect American consumers, of which I am one. On any given day about half of the oil futures contracts are bought and sold by traders, not companies that use oil, like airlines and power companies. And the sky’s the limit when it comes to how much of the market traders can control.
I am sick and tired of being taken to the cleaners like this. I want you, the members of the commission, to stop speculators from interfering with the price of food and energy. Stop listening to Wall Street lobbyists. Instead, start imposing meaningful position limits, as you are chartered to do.
Respectfully, but wrathfully,
Michael E. Morgenstern
A Victimized Consumer
