Congress is to busy positioning themselves to their base to get anything accomplished. We should bring them all home. Term limits are looking better all the timeIf the ';Enron Loophole'; is causing the high price of oil, shouldn't Congress being doing something...
Yes Congress should be doing something but it was them and Clinton that Created the problem in the first place!
Yes the ';Enron Loop hole'; is the biggest culprit. This allows futures Commodity traders to buy oil still in the ground by putting up a mere 7.5% of the bid price. Do the Math, a 1% increase in the price of oil will net the futures trader a 13.3% Net Profit!!! All other commodity traders must fork up 15% while stock market futures are required to anti up 50%. It was just this sort of thing that caused the stock market crash in 1929 when stock future traders were unregulated and typically ony put up 10%. Think we would have learned from that. I was Clinton who in 2000 signed the legislation to allow this Loop Hole, not Bush who did not come into office until 2001. His Adminstration prosecuted Eron for their mis deeds. Clinton allso signed Legislation in 1999 that remove most oversight of Mortage companies. This is the root cause of the Sub Prime mess in the housing industry and cause of many many forclosures.
I agree with the guy above on the idea of Term Limits, Long overdue!
Google it, it is all there to read!
Proud Vet
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