Sen. Blumenthal floats grand jury to probe cause of rising gas prices

[cal04]

http://thehill.com/blogs/e2-wire/677-e2-wire/157497-sen-blumenthal-floats-grand-jury-to-probe-gas-prices

Sen. Richard Blumenthal (D-Conn.) on Sunday called for an aggressive federal probe – including a possible grand jury – into whether rising gasoline prices stem from illegal manipulation of energy markets.

(snip)
Blumenthal, Connecticut’s former attorney general, said on CBS’ “Face the Nation” that federal officials need to play hardball.

“I commend and applaud the president for focusing on this issue but I think there really needs to be an investigation involving, for example, subpoenas and compulsory process which I used as attorney general in similar investigations. There needs to be very possibly a grand jury to uncover the potential wrongdoing,” said Blumenthal, who was elected to the Senate last year.

“The Justice Department should take the lead, seize this moment and send a message, a very strong deterrent message that this country will not tolerate the kind of illegal speculation and trading and hedge fund activity that may be driving prices up,” he added.

[CTyankee]

1. Dick was a GREAT Attorney General! He got things done in CT.

I hope he succeeds. He knows his way around the laws on consumer protection and he'll be like a dog with a bone on seeing it through...

[CC]

2. I hope he and the Senate

can look into things. There have been other times that the prices spike for no valid reason and just the threat or investigations by the Dem controlled House used to make them drop drastically.

[QED]

3. Good.

It cost me nearly $40 to fill up a Honda Civic yesterday. A civic! That hurt. I wish there was public trans to work but not here and changing jobs is not an option - I'm lucky to have one. Thankfully I can carpool a couple days a week but $40!

[NutmegYankee]

4. I so miss having him as AG.

He knew how to kick corporate ass.

[RUMMYisFROSTED]

5. He's asking Holder to take the lead?

[dkf]

6. Wouldn't speculation require market manipulation to be illegal?

Otherwise speculation is completely legal right?