Senator Joe Lieberman (I-Conn.), head of the U.S. Senates government affairs committee, unveiled several draft proposals on Wednesday aimed at restricting commodities market speculation. The proposed measures are the most drastic effort yet to prevent speculative investors from pushing up oil and grain prices.
The cost of food and energy is creating severe economic distress for millions of working families in America and around the globe, said Lieberman in a statement. We are not, as some continue to argue, witnessing the ebb and flow of natural market forces at work. We are instead seeing excessive market speculation at work,