ID:

504

Date:

2010-05-14

Headline:

CFTC Documents Reveal Internal Debate on Position Limits

Reporter's name:

Sarah N. Lynch

Delay/denial:

No

Lawsuit:

No

Fees:

No

Media outlet:

Wall Street Journal

City:

Washington, DC

Summary:

The Wall Street Journal used FOIA to obtain internal memos from the Commodity Futures Trading Commission (CFTC) showing some staff within the CFTC argued that imposing position limits on oil traders would do nothing to control price volatility. On the heels of price spikes of $4-per-gallon gasoline and oil over $140/barrel in the summer of 2008, CFTC Chairman Gary Gensler had suggested that "excessive speculation" could disconnect commodity prices from their real-world values.

Keywords:

CFTC, Commodity Futures Trading Commission, Gary Gensler, position limits, oil, gasoline, speculation

URL:

http://online.wsj.com/article/SB10001424052748704635204575242313250906300.html

Agencies:

CFTC

States:

DC

Districts:

Categories:

business