Comment Text:
Congress passed legislation intended to reduce speculation in the commodities markets, speculation that hurts me and my family by driving up prices at my local grocery store and gas pump. I am a self-employed small business owner trying to survive on 30% of revenues as compared to pre-recession. A huge chunk of my net income is spent on food and fuel. I support Sen. Bill Nelson’s bill, the Anti-Excessive Speculation Act of 2011, which would set reasonable limits on commodities speculation and protect American consumers. The only people who benefit from excessive speculation are the speculators, and the American people and economy are damaged thereby. The CFTC presently has the authority to pass a rule that actually implements Dodd-Frank, rather than undermines it. Show the American people that you are on their side and modify the proposed rule to limit speculator positions to 5% and to regulate cash-settled contracts in the same manner as physically-delivered contracts.
Jana Armstrong
731 Wren Avenue
Miami Springs, FL 33166
305-790-5559
