Page 42 - Bart Chilton News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Markets that might affect gas prices. that includes the role of traders and speculators. we're going to make sure that nobody is taking advantage of american consumers. >> attorney general eric holder said that we will be vigilant in monitoring the oil and gas markets for any wrongdoing so that consumers can be confident that they are not paying higher prices as a result of illegal activity. let's bring in the commissioner on the consumer futures trading commission, bart chilton and former north dakota senator byron dorgan. thanks for your time tonight. mr. chilton, what is your role going to ...

A lot of these investigations are key, ed, that we work together. too often as you know government siloed. this is going to help us out. >> finally, senator dorgan, this is a pretty big moment for the attorney general is it not? this has got to have some teeth to it. >> it is. and it needs to have some teeth because as i said, we've been through this before. we'll go through it again unless and until somebody takes a look at the law that created these -- this trading which has by the way a provision in it that talks about excess speculation. it was never intended these markets be captured by e...

And others have the capability. they're moving by the way. the cftc is doing some good things here but at this point given what's happening and that the price is way out of whack with supply and demand of oil, and by the way, no free market of oil in any event. we can talk about that later. i think the administration and others ought to grab this by the horns and say we're going to stop and shut down this excess speculation. >> mr. chilton the president could appoint someone that would think like you and you could get this done with 3 of the 5 votes. why not? >> a majority is what you need. th...

In looking at investigations, and in going forward to find out where we can coordinate and cooperate more efficiently and more effectively. a lot of people don't realize that 75% of the cases that my agency refers to the department of justice recently, they've been rejected by d.o.j. you remember baretta? he'd say if you do a crime you do the time. well, up until recently it's been you do the crime and maybe you'll pay a fine and get a slap on the wrist. >> senator dorgan, what did you think of president obama today and do you think this is a big step forward and will it have an impact? >> fir...

On prices right now and we need to do that. but we'll be involved in both, in looking at investigations, and in going forward to find out where we can coordinate and cooperate more efficiently and more effectively. a lot of people don't realize that 75% of the cases that my agency refers to the department of justice recently, they've been rejected by d.o.j. you remember baretta? he'd say if you do a crime you do the time. well, up until recently it's been you do the crime and maybe you'll pay a fine and get a slap on the wrist. >> senator dorgan, what did you think of president obama today and...