Blame Mrs. O'Leary, not the cow

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					Blame Mrs. O'Leary, not the cow
Ginger Szala
Futures; Apr 2010; 39, 4; Docstoc
pg. 8




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Description: The author admits she has never seen new Commodity Futures Trading Commission (CFTC) Chairman Gary Gensler speak before an audience. It isn't because he's been shy: since he joined the CFTC last year he has stormed through trading-related organization meetings giving speeches, reminiscent to Sherman's army. And as the opening keynote at the Futures Industry Association's annual meeting in Boca Raton, FL, Gensler did not disappoint. He has used the Chicago fire metaphor before, stating that the result was stronger building codes. And he's said repeatedly that the multi-trillion dollar OTC market remains largely unregulated and the most important parts of financial regulation must include that largely "standardized" OTC derivatives be centrally cleared and that dealers be regulated. The focus should be on the top executives and boards who were collecting checks while looking the other way.
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