Comment Text:
Despite a clear directive from Congress to rein in excessive speculation, our watchdogs in Washington seem to be listening more to Wall Street, and not acting quickly enough to protect American consumers. Consider: 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.
To help stop the manipulation of commodities prices,stop speculators from interfering with the price of food and energy. Please stop listening to Wall Street lobbyists. Please impose meaningful position limits.
Thanks,
Allen Reese
9500 Casa Bella Court
Atascadero, CA 93422
