In opposition to a Presidential veto, the House has gone forward and approved measures aimed at curbing speculation in oil and other commodity markets. The new measures will act like a watchdog group focused on hedge fund and large institutional investors. The measures will also allow for additional staffing at the Commodities Futures Trading Commission and would allow the CFTC to limit the stakes traders hold in certain commodity markets. The White House issued a statement explaining the President George W. Bush will likely veto the bill because, "there is no verifiable evidence that oil speculators were behind either the rise in oil prices or their recent decline."See the article here. -V
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