Reply #6: And President Obama's new nominee to head the CFTC

[slipslidingaway]

http://www.peterswire.net/privarchives/Remarks%20by%20the%20president%20at%20financial%20modernization%20bill%20signing.html

"President Clinton...Like all those before me, I want to express my gratitude to those principally responsible for the success of this legislation. I thank Secretary Summers and the entire team at Treasury, but especially Under Secretary Gensler, for their work..."


I have not read the entire speech...


http://www.treas.gov/press/releases/ls91.htm

"September 16, 1999
LS-91


"FINANCIAL MODERNIZATION" UNDER SECRETARY FOR DOMESTIC FINANCE GARY GENSLER REMARKS BEFORE THE FINANCIAL SERVICES ROUNDTABLE WASHINGTON, DC


Introduction

I am pleased to be here today to discuss financial modernization and the prospects for legislation. At the outset, I would like to make three points.

First, the Administration strongly supports modernization of our financial services laws. This round of legislation began with introduction of a Treasury-proposed bill in 1997. We have made compromises and reached out to a broad range of groups. We are up on the Hill practically every day working on this bill.

Second, we believe that legislation is clearly achievable. The passage of H.R. 10 by a 343-86 vote, with your support and Administration backing, demonstrates that unequivocally.

Third, although the Administration would like to see financial modernization legislation enacted, we are ready to walk away if presented with a bad bill. We did it last year, and we will do it again if we must...."


Senator Sanders put a hold on the Gensler nomination, links here.

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=132&topic_id=8297223&mesg_id=8298089