edit5410

Wall Street Breakfast: Must-Know News

Kelly Lieberman. High oil prices with the resulting high gasoline prices are the Republican way of redistributing wealth. More money to the rich few: oil co's, brokers, investment bankers, middle east countries, pension fund and hedge fund speculators, etc. AND taking it from the people least able to afford it, the worker. I guess you could call it a regressive tax, but it doesn't go to the govt. unless you call the huge political donations to Senators and Reps from the bankers, et. al "to the govt." I had hopes for Obama, but his flip on public financing of campaigns was a political expediency crusher. Same old s---, different horse.
Michael Levy,
Raise margin on oil contracts to 50%. Oil will drop to $70/barrel. Its immoral to keep margin here. The CFTC needs to act or be voted by Congress not to exist, which they can do. Of course, we are back to the millions that go from the bankers, et.al into the coffers of the Congress while the fast food burger server continues to get hosed at the pump. The CFTC is unlikely to act until the next administration OR the CFTC could, before Nov., raise the margin, oil drops to $70/barrel, gas to high $2's, and the McCain candidacy is saved. Karl Rove couldn't do better. Its like the swift boat ads, the Dukakis in the tank photo. Now, if Obama comes out soon with the idea of raising margin, Obama will get the credit and McCain will lose miserably. Kind of a Bush legacy result based on greed.