Lieberman bill would bar funds from commodities

From MarketWatch:

A series of restrictive proposals aimed at financial speculators in commodities were unveiled Wednesday, including a draft bill that would place an outright ban on big pension funds buying agricultural and energy futures.

The three draft bills from Connecticut's Joe Lieberman, which the independent senator plans to discuss at a hearing next week, count as the most drastic efforts yet from lawmakers targeting potential culprits behind high oil and grain prices.

The most severe would prohibit private and public pension funds with more than $500 million in assets from investing in agricultural and energy commodities traded on a U.S. futures exchange, foreign exchange or over the counter, according to materials provided by Lieberman's office.

A second proposed bill would direct the Commodities Futures Trading Commission to establish total limits on the share of the commodity market held by financial investors....MORE