comsc US Politics | AMERICAblog News: Wall Street blocks efforts to shut down energy speculation trading
Join Email List | About us | AMERICAblog Gay
Elections | Economic Crisis | Jobs | TSA | Limbaugh | Fun Stuff

Wall Street blocks efforts to shut down energy speculation trading

| Reddit | Tumblr | Digg | FARK

To be fair to Wall Street, the lifestyle-saving bailout was so 2008. Who could remember so far back? Today is a new day and there is money to be made off the backs of middle class, taxpayer schmucks. Fortunately Wall Street knows that they completely own Washington and can dictate the terms of how they will screw the country on issue after issue. With political campaigns costing as much as they do today, who is going to do anything to stop Wall Street if it might mean losing out on an opportunity to raise cash? Washington remains the best government money can buy. CNNMoney:

Even if Wall Street loses in court, the new position limit rules can't take full effect until two months after the agency has issued a definition of what qualifies as a swap, which is due out in April. Gasoline prices have risen in recent years as global demand grew. But the biggest factor for the recent price boost, according to analysts, is fear that tensions with Iran will lead to an all-out war that causes a disruption in oil supplies. Last week, traders set a record for the amount of money they bet on higher gasoline prices, according to Tom Kloza, chief oil analyst for the Oil Price Information Service.

blog comments powered by Disqus