Saturday, May 24, 2008

The biggest piece of crap legislation

Known as the Enron Loophole, this piece of crap was the brainchild of the wife of Senator Phil Gramm and the Wife of Tom Delay.

Hopefully, there will be some action to repeal this scrap of legislation that has allowed to commodity futures markets to create their own self fulfilling prophecies. We are all paying a price when the market are creating shortages on paper that translate to higher prices for consumers but no real shortage of actual supply.

As tankers loaded with crude sit in the gulf of Iran waiting for someone to buy them, we are paying  brutally high costs for things that are supposed to be in short supply.

H. R. 5660

Dallas News -Oil Insider Manipulation by fear

ICE, ICE, Baby - Ed Wallace | Star-Telegram.com

ICE, ICE, Baby, conclusion - Ed Wallace | Star-Telegram.com

We should be really angry. I am.
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