Tuesday, July 17, 2012

Gary 'The Weasel' Gensler Evasive On Peregrine Fraud And LIBOR Manipulation: "Barclays Was Aided In Fraud By Banks A, B, C, D" (CNBC Interview)

Runs 2 minutes.  Start watching at the 30-second mark.  Interview from about an hour ago. Gensler is a former Goldman squid, and current Chairman of the CFTC.  He passes the regulatory blame to the NFA for not detecting Peregrine fraud even though the CFTC did audits of PFG in 2006 and 2008, and he completely whiffs (out of fear - watch his eyes) when given a chance to tell the American people that there are no other fraudulent brokers out there.
With brilliant dudes like this in charge of finreg, I see no reason to worry.

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