Limiting 'Speculators'

http://www.futureofcapitalism.com/2009/08/limiting-speculators

The Wall Street Journal provides an update on the state of play on Gary Gensler's plan, as head of the Commodity Futures Trading Commission, to limit positions by "speculators" in energy markets. "Supporters now include several powerful entities once ambiguous or opposed to limits, such as exchange operator CME Group Inc. and Goldman Sachs Group Inc.," the Journal reports. An unanswered question is just what brought CME and Goldman on board. Was it the logic of Mr. Gensler's argument or was it some more complex calculation about the risk of angering the Obama administration by resisting? Add Goldman and CME to the growing list of capitalists who aren't standing up for free-market capitalism.

by Editor  |  Aug 6, 2009 at 6:00 am Related Topics:  Capital Markets Regulation, Goldman Sachs receive the latest by email: subscribe to the free futureofcapitalism.com mailing list