Sens. Defend CFTC Trading Limits Rule To Ebb Speculation

Law360, New York (April 13, 2012, 6:55 PM EDT) -- A group of 19 senators filed an amicus brief Friday supporting the U.S. Commodity Futures Trading Commission in a suit launched by industry groups seeking to stay a new rule aimed at curbing speculation in oil and commodities markets by limiting the positions investors can take.

The senators, led by Sen. Carl Levin, D-Mich., and including no Republicans, argued that imposing trading limits on speculators, as proposed by the CFTC, would combat excessive speculation and high prices for gasoline, crude oil, food and other commodities....
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