CFTC Struggles To Gain Foothold Amid MF Global Meltdown

Law360, New York (November 17, 2011, 8:39 PM EST) -- With reports Thursday that MF Global Inc. borrowed cash from customers without telling them or backing the loans, the unceasing revelations about the brokerage's collapse continue to sour investors' confidence in the reeling U.S. futures market and the ability of its chief regulator to handle the crisis, traders say.

Already struggling to assert itself in the messy MF Global meltdown, the U.S. Commodity Futures Trading Commission now faces the prospect that it missed a blatant crime. According to Thursday's reports, the commodities and derivatives brokerage, then...
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