Comment Text:
Commissioners,
Speculators are still playing games in the marketplace. We need to
stop them from wildly bidding up the price for everyday items we need,
like wheat, gasoline and heating oil.
Despite a clear directive from Congress to rein in excessive
speculation, watchdogs in Washington still seem to be listening more
to Wall Street, and not acting quickly enough to protect American
consumers.
Consider that 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.
We need to stop speculators from interfering with the price of food
and energy. Stop listening to Wall Street lobbyists and impose
meaningful position limits.
First it was the stock market, then the real estate market. Now it is
the commodities market. This could be the final blow to a nation that
is already at its knees.
Thanks,
Reed Markee
Fort Lauderdale
