Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
“The last thing people need now is to be ripped off at the gas pump because speculators on Wall Street -- some of the same people who received the largest taxpayer bailout in U.S. history -- are allowed to jack up oil prices through price manipulation and outright fraud,” Sanders said. “Unfortunately, I am afraid that is exactly what is happening right now.” Release: Sanders Introduces Oil Price Speculation Bill - Newsroom: U.S. Senator Bernie Sanders (Vermont)
Quote:
Originally Posted by TempesT68
Another outstanding proposal from Sanders. This will be one to watch to see who is on the side of big oil, and those for the people.
unfortunatly sanders like most socialist liberals only speak with forked tongue
1. the spectlators are not wall street..but WORLD WIDE
2. why go after one group of goods spectators....sugar, coffee, cotton has increase MORE than oil...but then again the fascist liberals always have to have some boogieman to hunt(ie the rich)
unfortunatly sanders like most socialist liberals only speak with forked tongue
1. the spectlators are not wall street..but WORLD WIDE
2. why go after one group of goods spectators....sugar, coffee, cotton has increase MORE than oil...but then again the fascist liberals always have to have some boogieman to hunt(ie the rich)
You are right. It will be fun to see how the US Congress can control global commodity trading.
Oil, food, coffee, housing, electricity-- need to get the speculators out of all of it.
Too many people have waaaaaay too much cash. So they try to protect it by speculating in things other people actually need to survive. If you're not going to take delivery, you shouldn't be participating in the supply/demand price dynamic.
It's sick and immoral.
Go buy a Picasso, Hope Diamond or joy ride on a privately owned space shuttle instead.
Not a good idea to try and control prices. It doesn't work well.
The last attempt at a similar bill gave the Commodity Futures Trading Commission too much power to control the market.
Why not raise the margin?
But isn't that EXACTLY what traders of these commodities are doing?
They keep the price artificially high.....
I'm fine with keeping "price control" out of the market, but it isn't just the government that needs to take a step back... I agree that subsidies need to be curtailed, but rabid speculation needs to end as well..
Well, if you put a the squeeze on Wall Street, the speculation/speculators will find another home. And I know Wall Street is evil and all, but those jobs and all that income will go elsewhere.
So how does ol' Bernie figure on regulating his fellow communist traders in China? Walk into the trading house in Peking and tell them what they are doing is against American laws?
I love when a politician uses a term like "ripped off" while he demagogue's an entire profession (speculators), as if his salary is acquired through honorable means.
Sanders would do more to drop the price of oil by introducing legislation to free up the permitting processes for drilling, exploration and refining, but alas that is a free market solution and not something the old socialist is capable of.
Instead he did what he does best and offers up a state based solution while ignoring the government's own culpability with it's onerous restrictions and money printing.
If passed,Sanders plan of price fixing will no doubt make things worse and could ultimately lead to shortages and rationing as was seen in the seventies.
Never met a pol who didn't need an 'enemy' to play off.
Typical shortsighted lack of perspective, simpleton solution to a complex problem.
All you need to know is Sanders is on the side of right and justice and his stand against Wall Street is a stand for the common man! Sure it is.
Set the wheels in motion for drilling in the US and watch prices drop.
Typical to go after AIG bonus recipients as if that makes sense in anyone's book except if you were a French peasant calling for Marie's head.
And then...... somehow Chris Dodd, the author of the bail out bill had legislation inserted into 'his' document in the dark of night by the Treasury dept headed by Tim "the tax cheat" Geitner that ensured the AIG guys would get their bonuses. If that isn't just like Sander's attempt to legislate the creation of enemies of the people and for the politicians. The D-party economic startegy continues.
I'm sure the airline, refiners and utilities would love this. It will screw us in the end. God save us from well meaning politicians.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
