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Civil Society Groups Urge President Obama and Congress to Curb Food Speculation to Fight the Global Hunger Crisis March 27th, 2009
Letter to White House, Congressional Leaders Demands Swift Action
WASHINGTON, DC – Tuesday, a coalition of faith, hunger, international development, farm and food organizations including the Oblate JPIC Office, sent a letter to President Obama requesting decisive support for efforts to wring out excess speculation in agricultural futures markets that threatens the food security of hundreds of millions of people. The letter notes that “A significant part of last year’s food price fluctuations were the result of excessive speculation in the commodities markets by the very hedge funds and investment banks that helped create the current economic meltdown.”
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