NEW YORK ( TheStreet) -- One news item getting surprisingly little airplay is Friday's ruling from Judge Robert Wilkins blocking the U.S. Commodities Futures Trading Commission from implementing new position limits rules in derivatives. It is surprising because this "little" ruling will set back Dodd-Frank reforms another six months at the very least, but even worse, call into question all of the new financial reform.In short, the federal judge ruled that the CFTC did not pass his test of proving that position limits were necessary before imposing them -- in other words, the judge was unconvinced that position limits would do anything to stop financial speculation driving prices up in commodity markets, particularly, but not limited to the oil markets.
Court's Ruling Deals Dodd-Frank Another Blow
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