Editorial: Go back to pre-1991 commodities regulation

08/26/2008 | Sun (Baltimore), The

In an editorial, the Baltimore Sun calls for increased regulations on commodities speculation, including tougher controls for margin limits on futures trading. Until 1991, the paper points out, only the actual users of commodities could buy in unlimited quantities, but that "prudent guard against speculation has been significantly weakened since then by the CFTC and Congress." The result: At one point in July, when oil was near its record price of $147 a barrel, a single firm controlled 11% of all the oil contracts on the New York Mercantile Exchange.

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Sun (Baltimore), The

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