Congress Might Ban Investments in Commodities!
Here is a heads-up for you. -Senator Joseph Lieberman has said he is considering legislation to place limits on large institutional investors in commodities markets. This includes oil and agricultural commodities. The legislation targets investors and speculators who use commodities as a way to hedge against swings in other investment vehicles like stocks and the US dollar.
Lieberman said “We may need to limit the opportunity people have to maximize their profits because a lot of the rest of us are paying through the nose, including some who can’t afford it,” said Lieberman, Independent of Connecticut.”
At first you might say that this is a good idea. ‘All those fancy institutional investors already have enough money anyway,’ right? I say no-way. If you have mutual funds, or own stock in any banks or investment companies, you as a shareholder/investor will be limited from protection of loss. Although I understand the underlying intent, this sounds highly un-American to me.
Use the link below to read the full story.
Source: http://www.iht.com/articles/2008/05/21/business/commod.php