House Passes Bill To Toughen CFTC Powers

Law360, New York (September 18, 2008, 12:00 AM EDT) -- The U.S. House of Representatives has passed a bill designed to cut off loopholes blamed for excessive speculation in the energy futures markets and to give the U.S. Commodity Futures Trading Commission more muscle to oversee and combat manipulation in the industry.

The Commodity Markets Transparency and Accountability Act, which supporters have billed as a measure for driving down high energy prices, cleared the House on Thursday with a 283-133 vote.

“Expert economists agree that unchecked speculation passes high costs directly to American consumers,” House Majority...
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