New Chairman of CFTC sworn in, promises new era of agressive regulation…

[miko432]

New Obama appointed controversial CFTC Chairman Gary Gensler was sworn-in yesterday and basically promised “strong, intellectual and aggressive regulation” (Oh God…).

Gensler also stressed the need to “urgently close the gaps in our laws to bring much-needed transparency and regulation to the over-the-counter derivatives market to lower risks, strengthen market integrity and protect investors.”

My guess is that the Anti-Hedging and the Anti-Pricing requirements were only the tip of the iceberg and that soon I’ll follow my article about the declining number of US Forex brokers with another, shorter one…

Michael

 

[anley]

Depends who they're regulating and in turn how much money they pay.

For example, a hell of a lot of regulation and closing down of the FX bucket shops as they're not large campaign donors, nor do they have their men in Washington.

Not so much regulation methinks for the bigger banks as they throw their money around, especially in Washington. Plus, there's always good 2-way job traffic between Wall Street and Washington.

If anyone ever wants to suss out how America really works, all you've got to do is follow the money...........