Comment Text:
Protect the consumer and not the traders. 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. Let's have tight regulations that stop this and protect the public from greedy and unscrupulous speculators.
David Albenda
SNR Denton US LLP
D +1 212 768 6784
[email protected]
www.snrdenton.com
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