The Middle Class and Low income Americans do not need a TIMELINE.
They need action NOW!
CFTC Position Limits on Oil Speculation Will Not Take Effect Until 2012, Agency Announces (click here)
After more than a year of debate and uncertainty, the Commodity Futures Trading Commission (CFTC) has announced a clear time line for implementation of position limits on speculative investors in oil and other products....This is absolutely ridiculous and pure unadulterated NEGLIGENCE of the 'fiduciary' relationship the commissioners hold to the American people. There is NO oil shortage and there hasn't been. This current price spike is pure exploitation which will force the President to release oil from the nation's reserve just to keep prices WHERE THEY SHOULD BE for Americans.
All the Commissioners should be fired !
The information may be a little 'dated' but just the same they are NOT doing their jobs and are allowing excoriating profits for absolutely no reason at all!
This is outrageous and will case inflation for NO REASON AT ALL.
FACTBOX-Profiles of CFTC commissioners on position limits (click title to entry - thank you)
WASHINGTON, Jan 19 (Reuters) - The U.S. Commodity Futures Trading Commission last week released its long-awaited proposal to curb speculation in energy futures markets, but several of its top officials expressed reservations that could make it harder for the regulatory agency to finalize its plan.
The measure is the first major regulatory reform for the top U.S. futures market regulator, led by Chairman Gary Gensler. [ID:nN14189109]
Gensler, a Democrat, is one of five CFTC commissioners appointed by the president. [ID:nN14156602] The commissioners have released the plan for public comment, but must vote again for the proposal to become final. [ID:nLDE60E12M]
Here are profiles of the other four commissioners....
