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As the Senate investigation pointed out,
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In my opinion, they either are just putting on a show or just trying to find a scapegoat to satisfy their constitutes, disregarding the roots of the problems.
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Suppose the United States were at war. Not some kind of neo-colonial war way over in Faroffistan, but a real war like WWII. Let's say American civilian lives are being lost en masse, and the survival of the United States is on the line. In such circumstances would we tolerate a pack of speculators parasitizing the energy of our war effort? If we were not acting like cowards preparing to surrender our sacred honor, we'd hang the bloody thieves like the traitorous dogs they are, fuel up our tanks and aircraft, and bomb the entrails out of our enemies.
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First I just want to say...beefing up the patriotism to justify your action is rather outdated and often, quite frankly, disastrous.
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You are much too tolerant. These speculators have not acted to "moderate the extreme fluctuation of the price." They have committed a crime which way yet prove to be one of the most economically destructive crimes ever committed against the United States. I'm certain the CFTC will make them pay.
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Their action can be deemed a crime if using justice and fairness standard but in no way speculators are the roots of economic destruction. Rather, they are the opposite of it, preventing economic destruction, at least in the short-term if the roots of the problems are solved.