Stupak Tries Again To Rein In Energy Speculators

Law360, New York (May 14, 2009, 12:00 AM EDT) -- Rep. Bart Stupak, D-Mich., has introduced a bill aimed at preventing speculators from manipulating energy markets and artificially inflating prices, particularly with respect to any upcoming cap-and-trade program.

The legislation, known as the Prevent Unfair Manipulation of Prices Act, would establish carbon as an included energy commodity subject to regulation by the U.S. Commodity Futures Trading Commission and would give the CFTC the authority to regulate all over-the-counter trades that are not currently regulated.

It would also ban naked credit default swaps, set aggregate position limits...
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