WEEKLY REPORT FROM WASHINGTON BY REP. LOFGREN, JUNE 27
June 27, 2008
June 27, 2008
WASHINGTON, June 27 -- Rep. Zoe Lofgren, D-Calif. (16th CD), issued the following newsletter:
Dear Friends:
In 2000, when Republicans controlled Congress, lawmakers exempted all energy futures trading from oversight by the Commodity Futures Trading Commission (CFTC) - commonly called the Enron loophole. Before the Enron loophole law, an estimated 70 percent of the energy futures market trades were made by energy producing and using industries-only 30 percent by spec . . .
Dear Friends:
In 2000, when Republicans controlled Congress, lawmakers exempted all energy futures trading from oversight by the Commodity Futures Trading Commission (CFTC) - commonly called the Enron loophole. Before the Enron loophole law, an estimated 70 percent of the energy futures market trades were made by energy producing and using industries-only 30 percent by spec . . .