Following last week’s focus on commodity speculation, it was good to see it hit the news yesterday. WDM released a new report, The Great Hunger Lottery, and the highlights from it caught the attention of newspaper editors.
Business Week picked up the story, the Ecologist and the Guardian, while the Daily Mail went to town with a ‘trading in death’ headline and images of starving children. This morning the Telegraph is reporting Goldman Sachs’ response – they claim WDM’s report is misleading.
Meanwhile at the Financial Services Authority, the phones have been busy with campaigners calling and asking that they regulate commodity speculation. They claim that they can’t ban anything that the government hasn’t asked them to regulate, and that there’s nothing they can do. That probably pitches the campaign back to the MPs, to see if we can raise awareness in parliament. It may also highlight the role of the London International Financial Futures and Options Exchange (LIFFE), and the tangled network of companies that owns them.
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