loop with inside information from the new york fed in the federal reserve now he's talking about gary gensler see if you see openly and corrupted lee rigging markets in this rate market capitals nightmare that's disenfranchising people all over europe all over america but they did a great job because we had it on our you tube look down below here people were screaming wreaking or that the fed won over prices are falling they're so powerful we are helpless people remember but at the top of the show we said people have the power it's the people who have the power organizer counterattack and you will win silver coin sales booming perfectly meant so there were a lot of people shrieking terrified of ben bernanke you they look at him and they see the wizard of oz before he's revealed they see a powerful all powerful. all knowing man and they're afraid of him others were out buying silver while the prices were being smashed probably bill gross but the perth mint for example says that they sold ten point seven million ounces of silver since july first of last year the sixty six percent increase over

insider trading and trading on this sort of information is no longer illegal but you have to say gary gensler former goldman sachs guy he gives his blessing to outright market manipulation of fraud again to the people in athens you're not protesting against capitalism you're protesting against transgressions against capitalism by market manipulators and insider traders like gary gensler to see if you see michael bloomberg of bloomberg or of jamie diamond of j.p. morgan these are the new the new home to remember the hunter back in the seventy's a totally screwed up in a country where the troika is the new one would be the other thing about this oil dumped on to the markets is that obama now gets to claim that he's tough on speculators all those speculators driving up the cost of oil and gasoline well of course only speculators only these top guys these hedge funds these oil traders make money on the downside right contain go why the release of oil from the s.p.r. is a doomed idea by dumping sixty million barrels of oil on the market or saying they're going to announcing a head of time the pric

chairman gary gensler today and began by asking him why regulators needed more time. >> um, the american public needs us to move forward and get all of these rules in place. congress gave us one year to do that. it's complicated subject and we substantially finished proposing 51 of these rules but it's going to take us more time. we hope to be able to complete the final rules over the course of the rest of the calendar year. >> so you're supporters have said to me, you know, he's the most aggressive regulator in washington. your critics say he's the most aggressive regulator in washington in fact so aggressive that these rules on margins and the way he's implementing the dodd frank reform law risks hurting american business. what do you say to that complaint? >> i say that transparent markets and well regulated markets benefit the american public and businesses and ultimately help promote jobs. the financial system fails america and the regulatory system failed. but what we know from prior failures out of the depression that well regulated markets help promote the economy. and this marke

our fifth witness is gary gensler of the futures trading commission and the last witness is john walsh acting comptroller of currency. we welcome our panelists and we will start with undersecretary brainard. >> thank you, chairman bachus and ranking member frank. i appreciate the opportunity. some would argue the united states is moving too fast on financial reform, that we should slow down and see what other countries implement. i don't agree. by moving first and leading from a position of strength we are elevating the world standard. with financial markets that are more globally integrated than ever we need financial reforms that are more globally convergent than ever. we don't need to synchronize across all issues there are a few key reforms that must be global in scope if they are to proceed. the risk of regulatory arbitrage carries real impact. it means a race to the bottom for standards and protections. it means potential loss of jobs in the american financial sector if firms move overseas and may increase the possibility of future financial instability if riskier activities migr

gary gensler who is the chairman of the cftc and six other senators. i have to tell you that i was extremely disappointed in both the tone of that meeting and the complete lack of urgency at the cftc with respect to cracking down on oil speculators, as required by the law. therefore, today i have introduced legislation along with senators blumenthal, merkley, franken, whitehouse and bill nelson to end excessive speculation once and for all -- once and for all. the american people cannot continue to be ripped off by wall street, who are artificially driving up the price of oil and gas. i am very pleased to also announce that congressman maurice hinchey will be introducing this piece of legislation in the house. this legislation mandates that the chairman of the cftc take immediate actions to eliminate excessive oil speculation within two weeks -- two weeks. one, our bill requires the chairman to establish speculative oil position limits equal to the position accountability levels that have been in place at the new york mercantile exchange since 2001 --

next, gary gensler, chair of the commodity futures exchange commission talks about his agency's progressin implementing the new financial regulations law. it's about a half hour. >> well, chairman gensler, thank