The Difference Between the SEC Handling of Heinz and Washington’s Handing of the Leak of the SPR in Oil is…

Posted on February 15th, 2013 by David Greenberg

Share

The Difference Between the SEC Handling of Heinz and Washington’s Handing of the Leak of the SPR in Oil is….

petro_reserve3462the SEC took action.  Below is an email sent to a contact in the White House on June 24, 2011 telling the President exactly how to find out which companies might have had inside information.  A contact in the White House was working on the jobs council.  I had also spoken with him about the run up in gas prices.  I realized that, after speaking with him for over 30 minutes, he didn’t understand what I was talking about. It was clear when he asked me how lower gas prices would add to the job market.  I asked him to direct me to the correct people, and I never heard back from him:

From: David Greenberg [mailto:dgreenberg@greenbergcapital.com]
Sent: Friday, June 24, 2011 4:42 PM
To:  John —O@treasury.gov
Subject: Spr front running. Cftc

Please tell the President that if the CFTC wants to see if there was a leak of news of the SPR information, they need to contact the CME get the crude oil globex records and all orders should have a time stamp-  account number and clearing house.  This is an easy one- —

Also please look at this link from CNBC  http://www.greenbergcapital.com/media.html?id=CNBC-3000029469&sort=0

As far as ideas for jobs when the administration starts a mandate that all buses and trucks run on natural gas. We could start building a network of natural gas stations and terminals across the country.  This would help the energy crisis – put people to work, and help the country stay green.

David Greenberg

President Obama had just made the Statement after the massive sell off a moment before the announcement of the SPR release. The President announced he was going to find out who had the information and go after the speculators who are driving up the world’s oil prices.

The CFTC was one of the agencies that was placed in charge of finding out the information. 

The headline news story was never heard about again.  The real question is why Washington never came forward with their findings. Could it be that a major US trading firm had the information? A firm that might have connected lobbyist? Maybe the SEC was just lucky, the trading firm was not one of the big American banks, and it allows them to look like the hero.  What do you think?  Let me know in the comments below.
Watch an Interview I did on CNBC the night of the SPR release.

Stay current with our blog and newsletter. Sign up for our E-Newsletter here:

Enter Email Here




Leave a Response