April 26, 2012
The Fed is a Speculator, Too
David Moon, KnoxvilleBiz
In announcing a series of executive actions and legislative proposals aimed at stopping speculators from manipulating oil prices, President Obama this past Tuesday said "we can't afford a situation where speculators artificially manipulate markets by buying up oil, creating the perception of a shortage, and driving prices higher … We can't afford a situation where some speculators can reap millions, while millions of American families get the short end of the stick."
TAGGED: oil prices, Federal Reserve Bank, President Obama, oil speculators