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Palouser
Senior Advisor

CFTC's Gensler to ask for higher budget in Congress

Personally I think the sad little project of the CFTC under Gensler should come to an end and assign responsibilities to the SEC. It's quite evident the CFTC is inneffective and under the sway of the CBOT and othe industry insiders.

 

In any case the hearing will not be web cast or the audio available for this meeting. It should be. Given the events of the MF Global wreck and the hiding of assets, and the role the CFTC did or did not play (Gensler recused himself from being involved), it is important the decision making and rationale for CFTC's operation be immediately available to the industries and public involved. And the reasoning or effectiveness of any budget increase. 

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Sou Tx
Contributor

Re: CFTC's Gensler to ask for higher budget in Congress

I believe I had read that Gensler actually recused himself after the decision had been made for CFTC to abrogate responsibility/authority for the bankruptcy to the SEC and a SIPA bankruptcy.
This ensured the 36,000 + commodity customers would have to fight the creditors for the funds stolen from their accounts.

Stayed around just long enough to do Corzine's bidding, then left and pretended to do the honorable thing.

Pitiful performance.
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