Americans are getting screwed at the gas pump. But it has nothing
to do with supply and demand or instability in the Middle East. Instead
- it has to do with corruption. As investigative reporter Lee Fang at
the Republic Report uncovered - a slew of lobbyists are working on
behalf of Wall Street to shoot down regulations intended to curb oil
speculation.
Bart Chilton, a commissioner with the Commodities Futures Trading
Commission, said that as much as $14 in every tank of gas you fill up in
your truck is a result of excessive oil speculation. That comes out to a
$750 a year tax on all drivers courtesy of Wall Street banksters.
Unfortunately for Americans who can't afford these inflated gas
prices - the top Republican financial watchdog in Congress -
Representative Spencer Bachus -believes that his job is not to regulate
the banks, but instead "regulators are there to serve the banks."
-Thom
(Can Representative Spencer Bachus really believe that? Tell us here.)
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