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The Forged Comments When the Commodities Futures Trading Commission CFTC proposed new rules to regulate the sales of derivatives and disclosure requirements in those sales it received hundreds

The Forged Comments

 

When the Commodities Futures Trading Commission (CFTC) proposed new rules to regulate the sales of derivatives and disclosure requirements in those sales, it received hundreds of comment letters. However, an investigation revealed that many of those letters were forged comment letters that were purportedly from an H.J. Heinz Company executive; a Burger King Corporation franchise; and at least five other Arkansas-based officials, including a judge, a county sheriff, and one mental health counselor. The letters contained identical passages criticizing banks for their "cartel-like control" of the $583 trillion derivatives market. The CFTC contacted the purported authors of the letters and confirmed them as forgeries. One agency observer noted, "This is just like the fake reviews we read all the time on the Internet from product buyers and services users. Everyone expects the seller to make these up or at least ask others to write letters for them." Is he right? What is the problem with the forgeries? Is this type of input different from e-Bay seller evaluations?

Aug 23 2021 View more View Less

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