Bill That Would Gut Financial Regulatory Efforts Delayed

By: Friday November 16, 2012 9:15 am

Lest I be described as a Gloomy Gus, let’s point out some good news for a change. Or at least some potentially good news. First, the Commodity Futures Trading Commission decided to appeal a ruling from a federal judge that cancelled the Dodd-Frank regulation on position limits. By a 3-2 vote, the commission agreed to [...]

Obama-Appointed Judge Strikes Down CFTC Commodity Speculation Limits

By: Friday September 28, 2012 3:59 pm

Everybody get on the commodity speculation train. A federal judge today threw out the Dodd-Frank provision that empowered the Commodity Futures Trading Commission to set position limits on commodity trading. Judge Robert Wilkins said in his ruling that the CFTC did not prove the necessity of position limits to curb runaway speculation, and that the [...]

Administration’s Steps on Oil Market Speculation Mostly Rely on Congress

By: Tuesday April 17, 2012 10:21 am

The President used a Rose Garden speech today to announce a new effort to crack down on rising oil market speculation. Here’s an excerpt from the remarks: We can’t afford a situation where speculators artificially manipulate markets by buying up oil, creating the perception of a shortage, and driving prices higher — only to flip [...]

Oil Speculation Can Be Right and Also a Problem

By: Thursday March 8, 2012 9:06 am

Matthew Yglesias has a piece making the fairly obvious point that geopolitical tensions cause the price of oil to rise. He adds that speculators are right to bid up the price of oil because of that: In the grand scheme of things, if the Iranian nuclear program really is a dire threat to American security, [...]

Judge Poised to Strike Down Position Limits for Oil Market Speculators

By: Tuesday February 28, 2012 8:55 am

We know that Wall Street speculation shoulders part of the blame for rising gas prices, and that the Commodity Futures Trading Commission has done little to stop it. But I didn’t know that even the weak CFTC rules established last year were being challenged in federal court. And the outcome of that court case could [...]

Sanders Accuses CFTC of Breaking the Law

By: Friday May 27, 2011 6:50 am

Yesterday we learned that Saudi Arabia warned US officials of oil price speculation back in 2007, telling them they had nowhere to sell additional crude even if they produced more. Since January, the Commodity Futures Trading Commission has had the authority to stop this rampant speculation, which has returned to the market, by using Dodd-Frank [...]

Sanders Wants Crackdown on Wall Street Speculation on Oil Prices

By: Friday April 29, 2011 7:35 am

Sen. Bernie Sanders has joined the increasing call for a crackdown on speculation in the oil markets. His letter to Barack Obama, which I’ve added at the end of this post, calls on the President to inform the Commodity Futures Trading Commission that they must impose strict limits on oil speculation, which is required in [...]

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