Articles tagged with: CFTC
Americans for Financial Reform hosted a conference call for reporters and bloggers to discuss the impact of Wall Street speculation on gas prices.
Americans for Financial Reform will host a conference call for reporters and bloggers on Today at 12:00 PM EDT to discuss the impact of Wall Street speculation on gas prices. Wall Street gambling is driving up gas prices and putting a strain on the economic recovery and the pocket-books of working families and the middle class.
AFR sent a letter to members of the Senate Appropriations subcommittee on Financial Services today urging them to full fund the CFTC.
AFR sent a letter to the SEC and CFTC urging regulators not to revise and loosen their original definition of ‘swap dealer’.
“The last time we saw this speculative feeding frenzy was in 2008, when in July, amidst the meltdown in the credit and housing markets, speculators wildly ran up the price of crude oil to over $140 per barrel. Was the steroidal price explosion in 2008 due to increased demand or a significant reduction in supply? Trading volume was nearly 15 times world oil demand that year, according to research compiled by Americans for Financial Reform.”
AFR sent a letter to the House Agriculture Committee urging members to support the full funding of the CFTC in President Obama’s proposed 2013 budget.
“The final regulations are a ‘significant weakening’ of the CFTC’s original proposal, Marcus Stanley, policy director of Americans for Financial Reform, which includes AFL-CIO and other labor unions, said in an e-mail today. ‘The numerous opt-outs, exceptions, and safe harbors in the final rule can effectively give swap dealers a free pass out of compliance with key statutory protections,’ Stanley said.”
“Another consumer group shared Roper’s concerns. ‘These rules, unlike the initial proposal, are simply not sufficient to fully implement the Dodd-Frank protections,’ Americans for Financial Reform said in a release.”