[Occupy Wall Street occupies sidewalks on Wall Street]
The Visible Hand of Wall Street Speculators in Gas Prices
A group of senators Wednesday introduced a bill to make federal regulators invoke emergency powers to rein in speculators responsible for rapidly-rising gasoline prices. The legislation would set a 14-day deadline for the Commodity Futures Trading Commission to implement rules to stop excessive speculation by Wall Street traders in oil futures markets. The bill by Sen. Bernie Sanders (I-Vt.) is cosponsored by Sens. Richard Blumenthal (D-Conn.), Sherrod Brown (D-Ohio), Ben Cardin (D-Md.), Al Franken (D-Minn.), Amy Klobuchar (D-Minn.) and Bill Nelson (D-Fla.).
The measure was prompted by gasoline prices that are nearing $4 a gallon and the commission’s refusal to obey a Wall Street reform law that required trading limits to be in place by Jan. 17, 2011.
“Millions of American consumers are hurting as a result of excessive speculation on the oil futures market and the future of our economy hangs in the balance. The time to act is now,” Sanders said at a news conference in the Capitol.
(via child-of-the-universe)Source: owsposters
[Spring is Here for OWS]
“We’re not ‘back’, we never left.”
An interesting perspective on OWS and the recent Million Hoodie March. The author, a black male, points out that “Just because a movement did some good doesn’t mean that it’s infallible.” I wasn’t at this action so I can’t really comment on what happened but I oftentimes find it useful to consider issues from as many different viewpoints as are available.
“Our six-month anniversary started off so nicely, with a march around Wall Street and then people talking, dancing, and singing in the park. Then a great General Assembly.
Then the NYPD decided the park was closed. We sat down. They came in and brutally arrested many people. Those of us not arrested marched uptown, where more violent arrests happened.”
Over 20,000 resignations/house arrests are visible using data from the SEC Securities and Exchange Commission.