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The settlement of £30m made by the commodity trader was seen a landmark in global justice.
Not every small oil or gas company will be hit by the commodity downturn.
They and their lawyers will surely argue that taking customer funds cannot be a crime or a fraud if it was sanctioned by the commodity commission rules.
In Australia the slowdown in housing did make a big dent in construction and consumer spending but this was masked by the commodity boom and exports to China.
But members of Congress are not only confident about Mr. Masters's findings, they are also almost equally suspicious of the Commodity Futures Trading Commission, a regulator generally held in high regard by the commodity exchanges under its jurisdiction.
The role played by the commodity behemoths should not be underestimated either, these stocks are now trading at much higher prices than in the depths of the market in February.
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A widely watched index of the major raw materials, created by the Commodity Research Bureau in Chicago, has fallen 19.3percentt since July 2. That means the commodity market is fast approaching bear territory, formally defined as a 20percentt drop from a high.
A widely watched index of the major raw materials, created by the Commodity Research Bureau in Chicago, has fallen more than 17percentt since July 2. That means the commodity market is fast approaching bear territory, formally defined as a 20percentt drop from a high.
Long-term investors account for only 20 percent of the activity in the commodities future market, according to a report published last week by the Commodity Futures Trading Commission, the industry regulator.
Other derivatives, including those related to interest rates and commodities, should be regulated by the Commodity Futures Trading Commission, said its chairman, Gary Gensler.
An unweighted index of commodities futures prices published by the Commodity Research Bureau rose 11.1percentt in 2000, largely because of sharp gains in energy prices.
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