Page 8 - Position Limits News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Right back there again, and we need these position limits in place and we need them soon. >> does president obama believe what you just said, that we need position limits and we need them soon? >> i can't speak for the president. but everything that he has said indicates to me that he is a strong supporter of putting appropriate side boards like position limits on these markets. to ensure that wall street or lasalle street don't push the price of products up beyond what they should be. government's not price setters, as you know. but we're supposed to make sure that these markets are free and ...

Mccain supported position limits. you even had bill o'reilly and dennis kucinich the other day. you've got the entire spectrum. this shouldn't be a partisan issue. the president did fight for positions in the new law. that's the wall street reform act. they said put these limits in place this january. two months ago. we still haven't done it. i wish we do, and we should do it as soon as possible. the administration's been very good. but all too often in washington there's amnesia. and people forget that not just wall street, but the regulators fell asleep at the switch several years ago, put u...

Demand. so when you say why are prices rising, it gives credence to the issue that speculators may be a having a big influence. we're looking at it. but if you go back to 2008, where we also had large supply, limited demand, ed, we saw prices of gas, as you reported, go over $4 a gallon. oil was at $147.27. there's no other reason that i can see, no one can explain why prices were that high. but we did have $200 billion of speculative interests come into the markets over a several-year period. and i think that helped spike prices up. again, i think they're tapping the gas pedal when they get i...

Kills tourism, by car and by air. it adds a premium to the cost of every single thing you buy that gets shipped by truck or by plane. you're going to feel it. if gas prices their 22-day rise, it won't be long before $4 or even $5 a gallon gas torpedoes the country's what some people call the weak economic recovery. in our special series this week, we've talked about the small businesses, and even some big ones that are clamoring for the government to tighten position limits, the caps that are supposed to prevent speculators from influencing the price of everything from gas to wheat to cotton. ...

He campaigned on the fact that the speculators had to be reeled in, yet we don't see the white house taking a very strong position in that regard. what do you make of it? >> well, as you've reported, this has been historically a bipartisan issue. then candidate and senator mccain supported position limits. you even had bill o'reilly and dennis kucinich the other day. you've got the entire spectrum. this shouldn't be a partisan issue. the president did fight for positions in the new law. that's the wall street reform act. they said put these limits in place this january. two months ago. we stil...