The public is catching on. In fact, everyone is now onto this economy killing Wall Street scheme except Republicans, who either hope this takes Obama down or reflects another bad management decision by them. Both?
Politicususa: The Republicans will continue to defend Wall Street and speculators to no end, even if it means delivering a devastating blow to Main Street and community business across the country. Earlier today the Chicago Mercantile Exchange announced it will impose higher margins on oil trading. According to CNBC, “The CME Group raised U.S. crude oil futures margins by 25 percent as of the close of business on May 10, helping to bring prices down following a $5 a barrel spike on Monday.” On May, 10th the CME announced an increase in margins and the price of a barrel of oil dropped over 2% right away. If that’s not a sign of speculation I don’t know what is.
A new poll by Opinion Research Corporation for CNN shows that the American public, no matter what party, know that they can just follow the money to find who’s to blame. Nine out of ten Americans believe that oil companies and speculators are to blame for the recent increase in gas prices:– 89 percent of Americans believe oil companies deserve a great deal of (61 percent) or some (27 percent) blame for the recent increase in gas prices.
– 90 percent of Americans believe Wall Street speculators deserve a great deal of (59 percent) or some (31 percent) blame for the recent increase in gas prices.
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