Senators Float 3 Measures For Curbing Speculation

Law360, New York (June 19, 2008, 12:00 AM EDT) -- Two U.S. senators have put forward three proposals aimed at reining in excessive speculation in the commodity markets, one of which would bar pension funds and other large investors from investing in commodities such as crude oil.

The other two discussion documents, introduced on Wednesday, suggest capping the amount of overall market share that financial speculators can hold in any one commodity or closing the “swaps loophole” that large investors supposedly use to avoid individual speculative position limits.

“We are not, as some continue to argue,...
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