We must recognize deficient structures so that we can proactively reform them, minimizing the likelihood of abuse. To enhance deterrence and detection of illegal behavior, we must screen these markets regularly: screens have historically flagged many of the largest financial scandals and they...

Measures have recently been proposed to restrict trading in crude oil and gasoline. This proposal is based on the presumption that market speculators are artificially raising the prices of these products; in other words, that the market is being manipulated. In this short note I will review the...

In this paper I review the key aspects of the new anti-manipulation and anti-fraud rules of the U.S. Commodities and Futures Trading Commission implemented last summer, representing a significant expansion of the Commission's enforcement authority. I argue that the role of the economist may...