From tonight's midas:
What a web of corruption. This is the chief of the CME exchange (the same one that owns COMEX) stating that the Wall Street Banks should be exempt from trading limits! It looks like some useful and strong measures will come out of the CFTC hearing….to help the Cartel keep rigging the markets! What possible justification is there for such an outrageous request? If he were arguing for the big oil companies I might buy in that they have large volumes of oil to sell….but the Wall Street Banks!!!???
These people have no shame…it is one thing that the corrupt Wall Street Banks should send their stooges to testify that they will help the average American pay less at the gas pump by allowing the Banks to short the bejesus errrr sorry, I mean, prevent excessive speculation in oil markets, but that the CEO of the exchange should go in to bat for the crooks is just beyond belief!
I checked out his Bio….the following is a corker "he serves on the Commodity Futures Trading Commission's ("CFTC") Global Markets Advisory Committee" …Oh! No conflict of interest there! The "Regulated" serves on the Advisory Board of the "Regulator"…that’s very cozy.
Cheers
Adrian"