Will CFTC Surface Above the Mendoza Line?
Funding for the US Commodity Futures Trading Commission (CFTC) in President Obama's 2012 budget is a significant increase over the previous year, as CFTC chairman Gary Gensler indicated in Congressional testimony this week. In reality, however, the increase is barely sufficient for the CFTC to regulate the electronic commodities markets. It’s akin to what baseball players refer to as going just over the Mendoza Line—the minimum batting average required to be considered a competent hitter, a
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