Comment Text:
Dear Sirs:
I am in agreement with the following quote from the New York Times:
"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."
This is driving up prices of everyday items like wheat, gasoline and heating oil. I urge you to stop speculators from interefering with the price of food and energy. It is your duty to stop listening to the Wall Street lobbyists and do what is right for the consumers. Please impose the meaningful position limits that were in the Dodd-Frank bill passed in 2010.
Sincerely,
Madeline Ricci
.
