[TheThirdRuffian]

How silly.

As if we are the only market. All regulation will do will move it to London or the Caymans or somesuch.

[Phlyer]

"The only way to permanently deflate the [commodities] market is to ensure more aggressive oversight." If the CFTC took the next step of requiring all U.S. crude trades to be subject to CFTC regulation and trading limits, oil prices would drop by 25% "overnight," says Greenberger.

Exactly as pointed out in Hayek - "Road to Serdom" - bureaucrats can't control part of the economy. Economic effort flows to where they don't control, leading to demands for broader controls. In the end, they must control every decision we make or they can not achieve their objectives.

Which, somewhere along the line, always become control itself, with the original 'problem' long forgotten in the lust for power. It's sad and a bit frightening to see Hayek's analysis playing out before us.

And Hayek's analysis points inexorably toward a dictatorship.