kirukal @ imayam.org

One, may be,  one of the many good things that is happening because of the recession. Bloomberg reports,

“July 7 (Bloomberg) — U.S. regulators say they may clamp down on oil and gas price speculators by limiting the holdings of energy futures traders, including index and exchange-traded funds. “

Trade is good, trading is good, having commodity market is good for the producer and the consumer. But we lost reality for the past few decades let all who had money paly poket on commodity. At last, we are realizing it now that it really hurts the middle class. I guess, average joe does not understand the commodity market stuff and people who really understand want to exploit it! (yeah, we do have few exceptions but they do loose reality when they see their 401k & IRA returns in double digits!) Things did not change for a long time. Now its changing. Only if the previous administration had learned something from the Enron & its power scandals, it would have limited or posted some kind of restriction on oil & gas speculation. We don’t fix until it breaks, even if its exactly the same thing only for a different market.