Attention All Pilots: A Chance to be Heard!

[Freeze_gopher]

Blueridge, you're gonna need to back that up with some facts or at least reason. Sound bites and poorly thought out platitudes just don't cut it. Show us how we become leftists by stopping Investment banks from exploiting our economy. Define leftist for me while you're at it.

 

[Soverytired]

The cumulative effect of anti-speculating legislation will be to waste time. It may eventually lead to a leftist push to nationalize the oil companies, a goal that some Democrats are already talking about.

I predict little noticeable change in the price of oil if this legislation passes.

There's no way the party in power (the Democrats) are going to pass ANYTHING before the November elections. If they did, they'd have to vote on proposed amendments on things like drilling for oil, which they've repeatedly have said they'd vote down.

This sort of nuanced prattle doesn't go over well with an electorate pissed at $5.00 gallon gas. So . . they'll punt it down the road, much like both parties have done since the 70's.

 

[Freeze_gopher]

Soverytired,

I agree that neither side of the isle gets a pass on this issue. However, there is legislation (that is being fast tracked) that may or may not come to a vote prior to the election. Politicians do like the status quo, but there is enough of a ground swell over this issue that they may actually do something about it. What a novel concept.
I have to imagine that a lot of pressure is being felt by both the Executive and the Legislative branches to change the irrational position held by the CFTC that the Intercontinental exchange is an overseas OTC market. ICE is based in Atlanta, is an American Company, run by an American. The CFTC contends that ICE isn't an American exchange because they bought a small British exchange several years ago. Hence they are not held accountable to American reporting requirements.

 

[Freeze_gopher]

The cumulative effect of anti-speculating legislation will be to waste time. It may eventually lead to a leftist push to nationalize the oil companies, a goal that some Democrats are already talking about.

I predict little noticeable change in the price of oil if this legislation passes.

Blueridge, you're gonna need to back that up with some facts or at least reason. Sound bites and poorly thought out platitudes just don't cut it. Show us how we become leftists by stopping Investment banks from exploiting our economy. Define leftist for me while you're at it.