Gensler Calls CFTC Budget Hike For 2010 Insufficient

Law360, New York (June 2, 2009, 12:00 AM EDT) -- Even though President Barack Obama is requesting funding hikes for both the U.S. Commodity Futures Trading Commission and the U.S. Securities and Exchange Commission, CFTC Chairman Gary Gensler told the Senate on Tuesday that the increase still wouldn't provide the "critical mass" of expertise needed to free the markets of manipulation.

Gensler and SEC Chairwoman Mary L. Schapiro reported to the Senate Committee on Appropriations' subcommittee on financial services and general government the need for the funding Obama has requested for both agencies in 2010....
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