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September 23, 2011

Plan for Trading Limits Goes International

International politicians and regulators urged the United Nations on Thursday to add a new item to its already packed agenda: speculative commodities trading.

Leonel Fernandez, president of the Dominican Republic, will propose to the United Nations General Assembly this week a resolution that would limit large trading positions, among other regulatory measures. Mr. Fernandez, speaking at an United Nations panel on Thursday, blamed Wall Street speculation for major fluctuations in food and oil prices.

“This is a major problem for our economy and our citizens,” he said.

Read the full article at The New York Times

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