President Obama has decided that CFTC chief Gary Gensler, unlike most of his first-term economic team, is worth keeping around. Gary Gensler agrees. Now if only they could figure out in what capacity.
Treasury Secretary Hank Paulson’s “blueprint” for revamping the financial regulatory system is already coming under fire from powerful agency heads. As early as Friday, even before the details of the plan were widely-known, the plan was lambasted by John Reich, the director of the Office of Thrift Supervision, which oversees the savings and loan industry. […]
The President’s budget for Fiscal Year 2009 includes $130 million in funding for the Commodity Futures Trading Commission. What has the CFTC done to earn this dramatic growth in its funding? Has it proved especially effective at exercising oversight and ensuring integrity in the markets where it has jurisdiction? Of course not. While the agency […]