CFTC Chief Under Fire Over Handling Of Oil Speculation

Law360, New York (June 5, 2012, 8:07 PM EDT) -- The head of the U.S. Commodity Futures Trading Commission isn't doing enough to prevent excessive oil speculation that has driven up gas prices, and should be replaced, U.S. Sen. Bernie Sanders, I-Vt., told President Barack Obama in a letter released Monday.

Sanders said CFTC Chairman Gary Gensler isn’t enforcing provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act that require the commission to prevent excessive speculation on oil prices and shouldn’t get a second term at the helm, according to the missive.

“In blatant...
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