24 March 2009

Democracy Now!

From Democracy Now!:
Sen. Sanders Attempts to Block Obama Nominee

In news from Capitol Hill, independent Senator Bernie Sanders is attempting to block President Obama’s nominee to head the Commodity Futures Trading Commission, Gary Gensler, a former Goldman Sachs employee. Sanders said Gensler had worked with Sen. Phil Gramm and Alan Greenspan to exempt credit default swaps from regulation, which led to the collapse of AIG and has resulted in the largest taxpayer bailout in US history. He also worked to deregulate electronic energy trading, which led to the downfall of Enron. Sanders said, “We need an independent leader who will help create a new culture in the financial marketplace and move us away from the greed, recklessness and illegal behavior which has caused so much harm to our economy.”

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