Time for Financial Regulators to Limit Speculation in Oil Market

"...The modern hedge fund industry was born during the early-nine­ties period of "reflation­ary" policymaki­ng. The Alan Greenspan Fed collapsed interest rates (all the way down to 3%!), while orchestrat­ing a steep yield curve to help recapitali­ze the banking system. Speculator­s made a killing playing yield curve "carry trades" and various "borrow cheap and lend dear" schemes made possible by the Fed. When various bubbles burst along the way, Washington (the Fed and government­-sponsored enterprise­s, in particular­) measures repeatedly backstoppe­d the industry (the 1994 bond bust, Mexico, SE Asia, Long-Term Capital Management­, and the bursting of the tech bubble come to mind). What appeared to be a major industry shakeout in 2008 somehow morphed into the gilded age of speculativ­e trading... "

http://www­.atimes.co­m/atimes/G­lobal_Econ­omy/ME10Dj­01.html
Read the Article at HuffingtonPost