Changing Margin Requirements
The Collection Agency has a good piece on moral hazard.
At the end of the piece it mentions the changing margin requirements imposed by the exchanges. I haven't seen anything on how those margin requirements are changing, but I did a quick search and I found a piece on margin requirements and how they would affect commodities.
This is a good change. I know buying commodity futures was highly leveraged. I remember reading on a board somewhere where they guy managed to triple his money by buying a future contract on leverage and the commodity price went up. Well, if someone can triple their money with a 10-20% swing in price, they can also lose it with half the swing. Increasing the margin requirements will cause less speculation and less price increases due to speculation. But it is going to hurt those that are leveraged to the hilt on these things already.
Consider it a bit more of the great leverage unwind, and duck.