From the oil speculators are evil file, a new report makes all kinds of loop suggestions about how to save us all from commodities markets:
Washington lawmakers and a money manager, stepping up an attack on commodities investors, will unveil a report Wednesday that they say shows speculators are to blame for this year’s rise and fall in oil prices, which have swung by some 50%.
Several Democratic senators intend to use the findings to bolster an energy bill, which includes measures to scale back how institutions can invest in index funds that track commodities markets. These institutions now hold $220 billion in commodities, up from $13 billion in 2003, according to the report, co-authored by hedge-fund manager Michael Masters.
Sure, let’s ban all non-commercial trades too. Go get ’em. And, and, and … other stuff. Oh, yeesh.