So…..good choice, then?President-elect Barack Obama announced the nomination of two key regulators yesterday: Mary Schapiro as the chairman of the Securities and Exchange Commission and Gary Gensler to head the Commodity Futures Trading Commission [CTFC].[...]
Gensler was a top negotiator for the White House in discussions with Congress in support of the now-controversial Commodity Modernization Futures Act of 2000. The law largely prevented the SEC and the CFTC from regulating credit default swaps and other complex instruments that would later wreak havoc with financial markets.
This sounds like the Bush Administration’s choices for agency heads. Somebody who has proven to act against the agency to which he or she is appointed. WTF?
....but hey, do what you want....you will anyway.
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