Here are just some of the comments from Business Insider:
Does this mean that the artificially high price of crude Oil will finally come down, as all hot money invested in it get forcefully divested?And me:
One would hope so. But couple of weeks back when the jobless claims rose and last week when we got ominous signals from China's slowdown, the Oil price has continued its relentless upward surge. This thing has completely divorced from the laws of supply and demand and is now merely an item to speculate on. Would have been Ok, if it did not directly caused adverse effects on consumer spending and consumer confidence.
All I can say is it is about damn time. Right Henry and Joe and Sam?And me again:
Now all we need is a government rule for lopping heads for bankers who try to circumvent the rules.And jamesxxxxxx:
Commodity trading is almost pure speculation and rent-seeking - it's almost the opposite of 'capitalism'.
Can't these banks think to create some actual value for people instead of always trying to leverage their power over others?
This call for rule changes makes it obvious that the banksters have so decimated MainStreet USA with financial oppression, that the Fed is doing this out of economic desperation. The Fed has admitted, in this consideration, that banks are now destroying mainstreet.
This does not stop bankers from churning contracts, making commodities scarce through making contracts scarce, even when there is plenty of the underlying commodity.
Now, there could be unintended consequences. If interest rates rise, pensions and corporations better get their money out of the TBTF banks or they could end up losing it to banks desperate for capital.