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Oil futures speculators get panties in wad over being exposed as scum
WASHINGTON (Reuters) - Oil trading data that exposed the extensive positions speculators held in the run-up to record high prices in 2008 were intentionally leaked by Sen. Bernie Sanders, sparking 'harrumphing' by various elements of the Vampire Squid industry. "The CFTC [Commodity Futures Trading Commission] has kept this information hidden from the American public for nearly three years," he said. "This is an outrage. The American people have a right to know exactly who caused gas prices to skyrocket in 2008 and who is causing them to spike today." The leaked information has sparked concern at the CFTC, which is legally prohibited from releasing confidential information that identifies trader positions and identities. However, members of Congress are not prohibited in any way from releasing information they obtain from CFTC in their course of their investigations. "This type of incident will have a chilling effect on derivatives trading in the U.S." one of the usual propagandists was quoted as saying. GOP pols have raised concern that collection of data from hedge funds and banks may constitute a regulatory overreach, another expression of their commitment to allow the Vampire Squid industry to finish off wrecking the US economy while politicians on both sides do their utmost to distract the electorate with irrelevant issues in the never-ending re-election campaign, financed by contributions from Vampire Squids. Remember kiddies, government regulations are EVIL unless & until they benefit the oligarchy. Review the economic definition of 'rent-seeking.' Posted by: Anguper Hupomosing9418 2011-08-19 |
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