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Banks not happy - CTFC Chairman Gensler gets fired
derryb
Posts: 38,586 ✭✭✭✭✭
Administration Cans Regulator Who Crossed Wall Street
Last CFTC Chairman to be run off was Brooksley Born (watch the fourth video) when she battled Greenspan, Rubin and Summers to give CTFC regulatory power over what have become toxic derivatives. Congress sided with the three musketeers and also failed to heed her warnings of a crash in 2008.
Appears Wall St. still gets to decide who does and does not regulate them. Let's hope Gensler will now become a whistleblower and spill all of the beans.
Last CFTC Chairman to be run off was Brooksley Born (watch the fourth video) when she battled Greenspan, Rubin and Summers to give CTFC regulatory power over what have become toxic derivatives. Congress sided with the three musketeers and also failed to heed her warnings of a crash in 2008.
Appears Wall St. still gets to decide who does and does not regulate them. Let's hope Gensler will now become a whistleblower and spill all of the beans.
Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat
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gary may do something good after all
<< <i>gary may do something good after all >>
Glad to see Elizabeth Warren is involved. She is the consumer's best friend in DC. This story is bigger than most realize and has broad implications. Bad enough we had to "replace" Glass Stegall with a watered down Dodd-Frank. Now the banks are seeking to escape it's controls as well.
Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat