Donald Trump’s top economic adviser is so sure about J. Christopher Giancarlo (in a way that he isn’t about, say, Larry Kudlow) that he’s told the CFTC’s only remaining Republican to just start tearing up the rulebook as though he’s already sailed through the Senate.
Though the Trump administration has yet to publicly say it plans to nominate Mr. Giancarlo, Gary Cohn, Mr. Trump’s senior economic adviser, in a private meeting last week indicated he would likely get the nod, according to a person familiar with the matter. Mr. Cohn told Mr. Giancarlo he should act as though he were the full-time chairman, this person said, suggesting the acting chairman wasn’t merely keeping the top CFTC seat warm for another individual.
And why should he be? Who better to be this administration’s top regulator for the futures industry than a former futures brokerage exec. who thinks firms like his old one should have as much leeway as possible in obeying as few rules as possible?