News Story Blames Inadequate Regulation for Excess Commodity Speculation, Trading Losses, Higher Energy Bills
Michael Giberson The Sunday Washington Post carried a front page story on the “slight oversight” of energy trading. Here’s the lede: One year ago, a 32-year-old trader at a giant hedge fund named Amaranth held huge sway over the price the country paid for natural gas. Trading on unregulated commodity exchanges, he made risky bets …