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Silver Wheaton Corp. Message Board

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  • cmegladon cmegladon Nov 24, 2010 9:46 PM Flag

    COMEX Silver

    After reading Butler's interview and ahow highly he reveres Mr. Gensler, I thought I'd paste this about the all hallowed one.
    "As the Treasury Department’s undersecretary for domestic finance in the last two years of the Clinton administration, Gensler found himself in the position of overseeing policies in the areas of U.S. financial markets, debt management, financial services, and community development. Gensler advocated the passage of the Commodity Futures Modernization Act of 2000, which exempted credit default swaps and other derivatives from regulation. The Senate was expected to examine his views on derivatives regulation during the Senate confirmation hearings.[4]
    In March 2009, Senator Bernie Sanders (I-VT) attempted to block his nomination to head the Commodity Futures Trading Commission. A statement from Sanders’ office said that Gensler “had worked with Sen. Phil Gramm and Alan Greenspan to exempt credit default swaps from regulation, which led to the collapse of AIG and has resulted in the largest taxpayer bailout in US history.” He also accused Gensler of working to deregulate electronic energy trading, which led to the downfall of Enron, and supporting the Gramm-Leach-Bliley Act, which allowed American banks to become “too big to fail.”

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    • Does this same senator have any proof he was against all these things himself? Did he stand up on any soap boxes and scream? Being an "I" he might be okay, but he may also be like most congressmen and is only now blaming EVERYONE else BUT congress. I have seen specials on PBS channels of anyone in power who did stand up and was not a congressman and how they were destroyed BY congress. Just sayin, dont trust congressmen, they NEVER make mistakes.

      • 1 Reply to curtrd
      • Just posting and providing some info. Any appointee of the present admin. must be vetted. Just cause Butler says this fellow is above reproach and clean as a whistle doesn't make it so. It leads one to need to dig. I was just digging and look what turns up. This guy, a former GS partner, a guy who single handedly approved CDOs?????

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