"Members of Congress have joined the anti speculation bandwagon blaming speculators for high oil prices and have proposed legislation to curb energy trading." (click the read more icon for the full NY times story)
Whenever the government interferes with the market bad things happen.
Always have, always will.
Maybe they should increase margin requirements in the corn market as well?
Or is the high price of corn a direct result of government subsidized ethanol plants?
Perhaps congress should question farmers about the high price of corn, demand to know how much money they are making, threaten a "windfall" corn tax?
Or is farmer bashing not as politically advantageous as oil executive/speculator bashing?
read more | digg story
No comments:
Post a Comment