CFTC Chairman Defends Agency: Commodity Futures Trading...
From Times Staff and Wire Reports
CFTC Chairman Defends Agency: Commodity Futures Trading Commission Chairman Wendy Gramm said Wall Street jealousy was behind calls for giving the rival Securities and Exchange Commission some or all of her agency’s jurisdiction. “There are two motives,” Gramm said in a speech to the futures industry. “First, the SEC wants more regulatory power.” The second is that “some on Wall Street want to turn back the clock to an earlier time” because “the securities sector is jealous of the performance and market share of the futures market.”
