Gensler resign? He has been on the government dole for years. He has been hand-picked as a bright get-along-go-along guy in Clinton and Obama administrations. Suma cum laude at Warton but as Bart Chilton says, the issues are sooooo complex and difficult to resolve. I guess we'll just have to wait until Gensler can figure it out but I am sure we mortals won't be able to understand (unless you went to Warton and graduated summa cum laude).
Oh. and he worked 18 years at Goldman Sacs. Starting to make sense isn't it?
Chairman Gary Gensler
Gary Gensler was sworn in as the Chairman of the Commodity Futures Trading Commission on May 26, 2009. Chairman Gensler previously served at the U.S. Department of the Treasury as Under Secretary of Domestic Finance (1999-2001) and as Assistant Secretary of Financial Markets (1997-1999). He subsequently served as a Senior Advisor to the Chairman of the U.S. Senate Banking Committee, Senator Paul Sarbanes, on the Sarbanes-Oxley Act, reforming corporate responsibility, accounting and securities laws.
As Under Secretary of the Treasury, Chairman Gensler was the principal advisor to Treasury Secretary Robert Rubin and later to Secretary Lawrence Summers on all aspects of domestic finance. The office was responsible for formulating policy and legislation in the areas of U.S. financial markets, public debt management, the banking system, financial services, fiscal affairs, federal lending, Government Sponsored Enterprises, and community development. In recognition of this service, he was awarded Treasury’s highest honor, the Alexander Hamilton Award.
Prior to joining Treasury, Chairman Gensler worked for 18 years at Goldman Sachs, where he was selected as a partner; in his last role he was Co-head of Finance.
Chairman Gensler is the co-author of a book, The Great Mutual Fund Trap, which presents common sense investment advice [yeah, don't invest in silver] for middle income Americans.
He is a summa cum laude graduate from the University of Pennsylvania’s Wharton School in 1978, with a Bachelor of Science in Economics and received a Master of Business Administration from the Wharton School’s graduate division in 1979. He lives with his three daughters outside of Baltimore, Maryland.
Why bother with these clowns? They must take their notes from the SEC. Four years to "investigate"?
Don't even bother teaching these guys CPR or letting them near the debrillator. It would take them a half decade to get to the patient, who'd be bones by then.
I've given up on the clowns at the CFTC. They've been investigating manipulation for 4 years, and in the mean time JPM & crowd have short positions 100x the annual world production! How much taxpayer money have they spent in the mean time, doing nothing?!
Oh, and one of the two CFTC judges was known to make a statement to the effect that he would never find a judgment in the favor of a plaintiff.
Even Ted Butler has given up on them, and is asking for all the commissioners to be replaced, and I tend to agree with him.
It's either incompetence or collusion. In either case, if the agency can't do the job, it needs to be dismantled - to stop wasting taxpayer money, and allow for private party civil lawsuits!
Tony: "Even Ted Butler has given up on them, and is asking for all the commissioners to be replaced, and I tend to agree with him."
I gave up on Ted Butler nearly a year ago when he continued to give excuses for the CFTC and kept trying to get them to do the right thing. They are clearly a corrupt arm of our corrupt government. And in my view Chilton is the worst of them. He knows what is going on and should have resigned in protest long ago. I have heard this same crap of it takes 3 commissioners in a vote and the issues are so complex and the big banks keep fighting us every step. Be a man Chilton and stand up and go public.
It will not be dismantled. It is not incompetence. It is collusion and that is their job. They are doing their job very well. They will prosecute ANYONE that is not in thier pocket like us. So they do have a job to do. Protect the JPM's and act like they care, and prosecute all the small fishes that even think of manipulating the market.