Comment Text:
10-002
COMMENT
CL-00530
From:
Sent:
To:
Subject:
pangasamaneesh@gmail, com
Thursday, April 8, 2010 12:34 PM
secretary
Proposed Federal Speculative Position Limits
Maneesh Pangasa
3562 South 18th Avenue
Yuma, AZ 85365-3937
April
8, 2010
CFTC Comments
Dear CFTC Comments:
I am writing in support of the CFTC's Proposed Federal Speculative
Position Limits that will reestablish speculative position limits on maj or
energy commodities. This rule will provide stability to the marketplace
and help prevent future price bubbles. The CFTC must quickly approve a
strong rule to protect America's struggling economy.
Wall Street's speculative trading in oil not only hurts the economy, but
hurts every American who pays excessive prices at the pump, for groceries,
home heating oil and everything related to transportation.
Our tax dollars were used to bail out large Wall Street firms when they
were on the brink of bankruptcy. It is these same institutions who gamble
on oil and who continue to profit at every American's expense.
We need financial safeguards in place not just for shareholders/investors
of companies to guard against accounting scandals and corporate fraud but
to protect consumers and to end too big to fail so taxpayers never have to
bail out big companies that run the risk of failing again. I encourage the
CFTC to adopt the Proposed Federal Speculative Position Limits before
volatile fuel prices further harm the country's already weakened economy.
Sincerely,
Maneesh Pangasa
9284468999
