The government imposed price controls and persecuted speculators and traders in the black market. By 2002, investors as speculators, rather than banks as hedgers, dominated the market. Coffee is also bought and sold by investors and price speculators as a tradable commodity. Millions of acres became available for sale to investors, speculators and settlers. The information was used by observers operating for financiers, merchants, wholesalers and speculators. Democrats defended the circular and blamed the panic on greedy speculators. Controversy about currency speculators and their effect on currency devaluations and national economies recurs regularly. The resulting scarcity created opportunities for market manipulation by energy speculators. This created an oil-drilling glut, with thousands of speculators attempting to make their fortunes. Claims began to be sold between miners and speculators for considerable sums. Extensive mission lands suddenly became available to government officials, ranchers, and land speculators. Day trading was once an activity that was exclusive to financial firms and professional speculators. The Bubble collapsed overnight, ruining many speculators. They were mainly speculators or theorists, particularly interested in astronomy. Madison argued that repaying the debt rewarded speculators.