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Something about it with the cftc and putting in position limits and the fact of the matter is right now politically we are seeing the republicans going out and they're going to beat the living tar out of the president politically on the campaign trail blaming him and it's always a campaign trail. i mean it started weeks ago. going to be blaming him. what should the white house do? what is the strategy here? >> i think you started well last week he started talking about an investigation but as you've pointed out and public citizen have pointed tout is not the illegal speculation that is the pro...

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 ...

And the result is higher prices through speculation that somebody drives up at the gas pump, pays 60 or 8 o bucks for a gas tank full of gas or a trucker pays $1,000 or $12,000 all because of rampant excess speculation. we don't need to investigate it anymore. let's just stop it. >> so, senator, is the white house just doing a political tap dance on this? what do you think? >> i've seen a lot of tap dancing over the years. the president cares about this and all i'm saying is that the american people -- $4 a gallon is kind of a trigger point certainly and the administration understands somethin...

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 be in the president's working group on this? >> we're one of several agencies, ed, that a...

Wall street banks we had to rescue from their gambling problems over sub prime mortgages in the fall of 2008. >> now that is a heck of a sound bite you just gave us there. i mean if the american people can't grab that and the severity of this i don't know what it's going to take. now do you think that gas prices would fall as soon as position limits are put into place? >> i think gas prices would fall if position limits were put into place but frankly the president has the power of the bully pulpit here. if he calls out these big banks who have already taken so much from the american people in...