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Of the MF Global (MF) failure, the WSJ asks, "Where was the CFTC," noting one of the...

Of the MF Global (MF) failure, the WSJ asks, "Where was the CFTC," noting one of the commission's key areas of oversight is ensuring "companies aren't raiding customer funds." CFTC Chairman Gensler acquired vast new powers partly by blaming lack of regulatory muscle for the AIG debacle. Well, he got them, and it looks like they didn't help a bit.
Comments (4)
  • wyostocks
    , contributor
    Comments (9005) | Send Message
     
    I wonder how much the "aura" about Corzine lulled eveybody to sleep about what was actually going on at MF.
    BTW, where were the employees?
    2 Nov 2011, 10:57 AM Reply Like
  • youngman442002
    , contributor
    Comments (5131) | Send Message
     
    its just more power and bigger salaries....regulate..... food at the weekly meeting though
    2 Nov 2011, 11:22 AM Reply Like
  • Poor Texan
    , contributor
    Comments (3533) | Send Message
     
    The only true regulation is a strong ethical character. Any rule can be twisted or subverted. Location, location, location in real estate; character, character, character in financial transactions.
    2 Nov 2011, 01:42 PM Reply Like
  • tomorourke1
    , contributor
    Comments (28) | Send Message
     
    Gensler is so busy assigning blame for the 2008 meltdown that he did not do his primary job of regulating commodity firms. This is the worst of all sins, a pontificating and sanctimonious incompetent blowhard who gets a lot of media face time!
    3 Nov 2011, 10:54 AM Reply Like
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