DO THEY WANT ANOTHER CRASH?

The House GOP seems bent on creating conditions that could lead to another Great Depression.

House ready to slash funding for key oil-market regulator
By Kevin G. Hall | McClatchy Newspapers
Posted on Tuesday, June 14, 2011

House members are expected to approve an agriculture spending bill that would deeply cut the annual bill that funds the Commodity Futures Trading Commission, which regulates trading in oil, grains and other commodities.

The House bill would provide $171.9 million for the agency, a decrease of about $30 million from the $202.2 million given to the agency the prior year.

Among those powers is regulating, for the first time, the complex over-the-counter market, where private parties enter into secret bets, called swaps, on movements in the price of oil and other commodities. These so-called dark markets are seven times as large as the regulated futures market, where contracts for future delivery of oil are traded.