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All messages are published
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The general topic of this message is Financial Services:
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Subject:
Regulation of commodity derivatives markets
To:
Sen. Charles Schumer
Rep. Maurice Hinchey
Sen. Kirsten Gillibrand
November 3, 2009
I am concerned that last year's high oil and food prices were heavily influenced by the deregulation of the commodity futures markets that allowed large investors to pour huge amounts of speculative money into those markets. The result in America was $4 gas and starvation and food riots around the world.
Because of this I am writing today to urge you to support legislation that would require the CFTC to place aggregate speculative position limits on all speculators in all commodity derivatives markets. The legislation should require all derivatives to clear through an exchange in order to protect our financial system from another collapse.
We can not allow large investors to gamble on hunger.
Thank you for your consideration.
Endicott , NY
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