World Food Day Action: CFTC Should Regulate Commodities Trading
  • Petitioned Gary Gensler

This petition was delivered to:

Chairman of CFTC
Gary Gensler
Commissioner, CFTC
Michael Dunn
Commissioner, CFTC
Bart Chilton
Commissioner, CFTC
Jill Sommers
Commissioner, CFTC
Scott O'Malia

World Food Day Action: CFTC Should Regulate Commodities Trading

    1. Petition by

      Interfaith Center on Corporate Responsibility

We sit on another potential derivatives bubble. But instead of the housing market being turned into a casino and resulting in millions losing their homes, this time it's agricultural derivatives with the looming risk of global food shortages and famine.

While the current protests in the U.S. have rightfully centered on the banks’ role in causing housing foreclosures, unemployment and economic injustice, people around the world have felt the effects of excessive speculation on Wall Street most directly in the prices they pay for their food and energy. One might think farmers would benefit from higher food prices, but farmers all over the world are hit just as hard because everything that goes into growing our food is more expensive.

Food price volatility is a matter of life and death. Right now, the Commodities Futures Trading Commission (CFTC) has the important task, mandated by Congress as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act, to enact strong limits on agricultural derivatives. If the position limits are strong enough, stability would be brought back to these markets resulting in less volatile prices that would help secure our global food system. The Occupy Wall Street rallies have galvanized public attention around the clear need for stronger financial regulations that will help secure our financial system.

Here is one meaningful action you can take to help commemorate World Food Day on October 16th: send a letter to the members of the CFTC requesting that they impose stricter regulations on food commodities traded on exchanges and stop gambling on hunger.

Visit www.StopGamblingonHunger.org for more information

Recent signatures

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    1. Reached 300 signatures

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    Reasons for signing

    • Yaneer Bar-Yam CAMBRIDGE, MA
      • about 3 years ago

      Please see our paper M. Lagi, Yavni Bar-Yam, K.Z. Bertrand, Yaneer Bar-Yam, The Food Crises: A Quantitative Model of Food Prices Including Speculators and Ethanol Conversion. arXiv:1109.4859, September 21, 2011. "http://necsi.edu/research/social/foodprices.html

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      • about 3 years ago

      The right to food, and availability to good food for all persons on the planet, is a basic fundamental Human Right, and a moral imperative. " ... I was hungry and you gave me to eat..." Matthew 25.

      Thank you for your consideration.

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    • Mary Laura Miceli MT. ST. JOSEPH, OH
      • about 3 years ago

      Stricter reglations on food commodities

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    • Julia Head MAPLE MOUNT, KY
      • about 3 years ago

      Most of the people that I know, as well as myself, have food available three times (or more) each day. All the poor, adults as well as children, need to be able to afford to purchase food...shame on any of us who make it more difficult for them.

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    • Wendy Borchetta NEWTOWN, CT
      • about 3 years ago

      It is everyone's responsibility to eradicate hunger in this world.

      REPORT THIS COMMENT:

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