Comment Text:
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From: Pelt, Holly
Sent: Tuesday, September 27, 2011 8:38 AM
To: '[email protected]'
Subject: Commodity Futures Trading Commission
Importance: High
Dear Members:
According to The New York Times, and obviously by listening to the news anyone can see that speculators are playing games in the marketplace. Our regulators allow them to wildly bid 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, our watchdogs in Washington seem to be listening more to Wall Street, and not acting quickly enough to protect American consumers. 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. Traders should have no control whatsoever on oil prices, or anything else for that matter.
I’m sending this e-mail to encourage you to stop the manipulation of commodities prices. Please stop speculators from interfering with the price of food and energy. Stop listening to Wall Street lobbyists and impose meaningful position limits.
It’s not right or fair for them to be controlling prices to fill their pockets while average Americans pay the price (higher and higher). This has got to stop. There have got to be controls set in place.
Thank You
Holly Pelt
