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CFTC Commissioner Bart Chilton delivered a speech urging the Fed to reverse its policy of allowing banks to own physical commodities. Chilton stated that he wrote to Chairman Ben Bernanke urging him to rewrite the Volcker Rule in a "precise and surefooted fashion." Chilton explained he believes that banks owning physical commodities could render the Volcker Rule useless by obscuring "business risk." Commissioner Chilton suggested that banks should get back to banking. Lofchie Comment: One of the problems that Dodd-Frank creates is too many regulators with confused and overlapping jurisdictions