Publications: Notes at the Margin

In Praise of Futures Markets (January 6, 2014)


The New York Times and other publications have marked Gary Gensler’s departure from the Commodity Futures Trading Commission with long, convoluted articles praising his tenure there. Under his “leadership,” the Commission has moved aggressively to limit speculator participation in commodity markets. In a recent article, The Times tries to achieve the impossible: make the former CFTC chairman’s policies and initiatives appear successful. Unfortunately, The Times and the ill-informed author will be proven wrong. Gensler’s stint at the Commission was a disaster. Consumers will pay dearly in the future if the rules and regulations enacted at his behest are not reversed. This week's report explains why.


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