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The CFTC is "a good investment for the American public," says chief Gary Gensler, but the agency...

The CFTC is "a good investment for the American public," says chief Gary Gensler, but the agency needs more money if it's meant to prevent another financial crisis from happening. "Without oversight of the swaps market, billions of taxpayer dollars may be at risk." (testimony)
Comments (3)
  • catamount
    , contributor
    Comments (376) | Send Message
     
    These people always seem to need more money. Funny how that works. How many agencies do we need to scrutinize this crap? 3?
    17 Mar 2011, 01:48 PM Reply Like
  • D_Virginia
    , contributor
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    Well, they each do scrutinize /different/ crap.

     

    And if you don't want to fund regulatory agencies, that's fine, but then you can't complain when (not if) Wall Street steals even more of the people's money. Expect more Madoffs, more financial crises, etc.

     

    To put it another way, do you really expect a cop with a water gun to stop criminals thundering through the streets in a tank?
    17 Mar 2011, 02:09 PM Reply Like
  • catamount
    , contributor
    Comments (376) | Send Message
     
    How you jumped from my questioning the need for more than one organization scrutinizing these issues to the straw-man argument that is, "you don't want to fund regulatory agencies [at all]" I will never know. I assume you must be a bureaucrat of some kind. We simply disagree, and I would get fired for operating like that.
    17 Mar 2011, 02:24 PM Reply Like
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