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CFTC reauthorization

Testifying to Stop Wall Street Gambling with Derivatives to Jack Up Prices for their Bonuses

Almost everything you buy (gas, cereal, coffee, etc.) is connected to complex financial instruments called “derivatives,” about 90% of which are controlled by the five biggest Wall Street banks.  If those gigantic derivatives-dealing banks are not properly regulated, then they play with the prices hardworking Main Street Americans pay for almost everything.  They make the prices bounce up and down (called “volatility”), which is great for Wall Street bonuses, but really bad for consumers, farmers and the real economy that makes goods and services that people want and need.