H.R.6604 - Commodity Markets Transparency and Accountability Act of 2008 Sponsor: Collin Peterson / 110th Congress

Title
110th Congress - To amend the Commodity Exchange Act to bring greater transparency and accountability to commodity markets, and for other purposes. hidemore...
Summary
To amend the Commodity Exchange Act to bring greater transparency and accountability to commodity markets, and for other purposes. (by CRS)
Status
The bill was voted on in the House on September 18, 2008

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Democratic Attempts at Futures Markets Transparency by Milan Sundaresan, Jul 31, 2008 (4:18am)

Garnering huge support from the agricultural community, the excellent bipartisan H.R. 6604 attempts to make energy future markets (A futures market is an auction market in which participants buy and sell commodity/future contracts for delivery on a specified future date) more transparent. The legislation is seen as a way to address high energy prices by holding markets accountable and penalizing hedgers. Unfortunately the bill does see plenty of opposition especially from the Republican party. Organizations such as ERISA Industry Committee claim that by limiting the ability to hedge investments congressmen would be risking individuals’ pension funds. However environmentalists such as the Wildlife Action Center support the bill with hopes of preventing offshore drilling.

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