Gensler: CFTC Eager to Clean Up Swap Market (Press Release)

Press Releases 6102-11

September 1, 2011

CFTC Chairman Gary Gensler, writing in an op-ed piece in Politico, states that "the CFTC [has] turned an important corner, as we began finalizing rules to make a more open and transparent derivatives market," and that "commissioners and staff are working day and night to put up the necessary street lamps to bring the swaps market out of the shadows and the traffic signals to protect the public from another financial crash." Arguing that swaps "heightened risk on Wall Street" during the 2008 financial crisis, he conclude that "until we complete our reforms, the public remains at risk.'