CFTC Hid Oil Speculation Info: Sen.

Law360, New York (August 19, 2011, 7:01 PM EDT) -- Sen. Bernie Sanders, I-Vt., said Friday that a report by the U.S. Commodity Futures Trading Commission proved that speculative oil traders had caused a spike in oil prices in 2008, and that the commission had kept the information hidden.

"This report clearly shows that in the summer of 2008 when gas prices spiked to more than $4 a gallon, Goldman Sachs, Morgan Stanley and other speculators on Wall Street dominated the crude oil futures market causing tremendous damage to the entire economy," Sanders said.

Sanders did...
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