Italy's Berlusconi backs ban of futures markets

Speculators played a heavy role in what, sir?

I am just wondering what are their problems with CURRENT commodity prices? Are we speculators creating hunger in Africa with grains at the same level as 2006-2007? Average joe cannot fuel the car with oil at 2007 level? Cannot heat their house with natural gas at crazy discounts?
 
Quote from Thunderdog:

Yes. First the party and now the cleanup, eh? It's never quite as enchanting the next morning when the lights are turned on in the dance hall. Especially after a party that has lasted for years. Even so, there are still some people who wake up on the sticky floor, hoping that not all fo the bottles and glasses are completely empty.
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Drama queen
 
Quote from Billy Thunder:

ROME, Sept 29 (Reuters) - Italian Prime Minister Silvio Berlusconi said on Tuesday futures' markets should be heavily regulated and possibly even scrapped altogether to fight speculation.

"I myself put this issue on the table at the G8, G14 and last week at the G20," Berlusconi told a TV talk show, adding that the International Organisation of Securities Commissions (IOSCO) was looking into the matter.

"We have given a mandate to IOSCO to look at the futures markets with the aim of regulating them and, above all, perhaps even banning them," he said.

He mentioned oil, steel, copper and food commodities as examples of markets where speculation played a heavy role.
http://in.reuters.com/article/oilRpt/idINLT36666420090929
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Banning? I think that's just a knee-jerk reaction, with emphasis on the jerk part. Unregulated, over the counter derivatives require a good looking into, though.
 
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