WASHINGTON – Tomorrow, in a leap day press conference, Massachusetts Democratic Congressmen Ed Markey and Barney Frank will push back on recent attempts to weaken, delay or dismantle consumer protections enacted by Congressional Democrats which would limit the ability speculators and other commodity traders from manipulating oil markets.
On Monday, financial trade organizations launched attempts to delay enactments of protections by the Commodities Futures Trading Commission (CFTC), abetted by Congressional Republicans who are moving legislation through Congress to achieve the same mission.
Oil speculators have preyed on fears arising from Middle East tension to increase the price of oil, resulting in record high gas prices for this time of year. Reps. Markey and Frank will address the CFTC rules and how they believe American families and businesses can be protected from gas price spikes and Wall Street manipulation.
WHAT: Press conference on oil speculation.
WHO:
Rep. Ed Markey (D-Mass.), Ranking Member, Natural Resources Committee
Rep. Barney Frank (D-Mass.), Ranking Member, Financial Services Committee
WHERE: House Radio TV Gallery, Studio A, CVC
WHEN: LEAP DAY, NOON
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