Italy's Berlusconi backs ban of futures markets

Discussion in 'Wall St. News' started by Billy Thunder, Sep 30, 2009.

  1. ROME, Sept 29 (Reuters) - Italian Prime Minister Silvio Berlusconi said on Tuesday futures' markets should be heavily regulated and possibly even scrapped altogether to fight speculation.

    "I myself put this issue on the table at the G8, G14 and last week at the G20," Berlusconi told a TV talk show, adding that the International Organisation of Securities Commissions (IOSCO) was looking into the matter.

    "We have given a mandate to IOSCO to look at the futures markets with the aim of regulating them and, above all, perhaps even banning them," he said.

    He mentioned oil, steel, copper and food commodities as examples of markets where speculation played a heavy role.
  2. Just another dumbshit that doesn't have a clue how markets work and that hedgers need speculators to function.
  3. [​IMG]
  4. rwk


    The more I read about Berlusconi, the less impressed I am. I doubt anybody outside Italy takes him seriously.

    But I seem to recall a few years ago, the SEC chairman made a comment that he saw no reason why futures margin should be any lower than stock margin. Cluelessness abounds!
  5. The proper approach is to review what has changed
    with regards to these markets....

    Review the periods whereby the markets seemed
    to function properly vs those periods that they did not....

    Perhap common sense regulations could be considered
    without the AMERICAN STYLE FASCISTS having a say ?
  6. Ban Goldman Sachs & JP Morgan.

    Problem solved.
  7. Lucrum


    I'd back a ban on career politicians.

    Just think of the enormous savings in stupidity, unnecessary intrusion, hypocrisy, ridiculous spending and ruined nations.
  8. Reminiscing the Bush years, are you?
  9. Yes, I miss President Bush. Those were the good days, now not so much.
  10. Yes. First the party and now the cleanup, eh? It's never quite as enchanting the next morning when the lights are turned on in the dance hall. Especially after a party that has lasted for years. Even so, there are still some people who wake up on the sticky floor, hoping that not all fo the bottles and glasses are completely empty.
    #10     Sep 30, 2009