Comment Text:
To The Commodity Futures Trading Commission:
As a concerned citizen I am asking, no, begging you to rein in speculation in the commodities market. Liaise-faire speculation, in my opinion, is destroying our country. The government should be protecting citizens from the adverse effects of people treating the markets like their own version of Las Vegas. I am not against people gambling with their own capital, but they should do it in Las Vegas or other venues where they are in the game with other people who also enjoy risk, who understand the nature of the risk, and who have a choice. Markets are not gambling halls. This is affecting ordinary citizens who have families to feed, and who would never take chances gambling with their hard-earned money.
I understand the arguments for allowing speculation for the sake of liquidity, but there needs to be a limit, and it needs to be a very strict and tight limit. Destroying ordinary families for the sake of liquidity in the markets is just not acceptable. The entire social enterprise, including the government, the markets, corporations, etc. is supposed to work ultimately for “We the People of the United States,” not for the few who allow, in my opinion, self-centered greed to blind them to the effects of their actions (if they care at all). Please, you, the people’s regulators, are our only protection against this sort of thing. Rampant speculation is, I believe, an extremely serious evil. Rein it in!
Sincerely,
John M. Cloninger, Jr.
7129 SE Rivers Edge St
Jupiter, FL 33458-1055
[email protected]
CC: Senator Bill Nelson of Florida
