While the outgoing chairman of the Commodity Futures Trading Commission (CFTC) called for “courageous regulatory reform” in the United States that would include scrapping the CFTC, Securities and Exchange Commission (SEC) and various banking regulators for a whole new framework, Democratic Commissioner Bart Chilton called for fast action and “real-time, real world solutions.”
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CFTC Chair Calls for Total Revamp of Financial Regulation
Acting Chairman Walter Lukken of the Commodity Futures Trading Commission (CFTC) Tuesday called for “courageous regulatory reform” in the United States that would include scrapping the CFTC, Securities and Exchange Commission (SEC) and various banking regulators and setting up an entirely new and different framework to avoid future meltdowns.
November 12, 2008
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