goldman i gary gensler is being painted as a tough new sheriff even though he advocated oversight of the entire futures industry one m.f. global ago and its age of whistleblowers today actually yesterday snowden and then today bank of america thanks to two lawsuits we learned how the too big to fail giant systematically built homeowners promise and loan modifications through them they proceeded to take out of those homes and you might have heard of the volcker rule that says banks cannot gamble with customer money lloyd blankfein said his goldman sachs doing this but guess what he did it we just learned that the firm found a loophole to keep doing it anyway over a billion dollars worth we'll learn how this is possible and how it might add we talked to the partner of public citizen finally we have eliot spitzer who resigned in disgrace in two thousand and eight just as applied anshul panic was heating up well he's back and he's looking to oversee new york one hundred forty billion dollars city pension plan he won't be able to bring charges of being schooled right so. find out what's i

press have quarter not told though it may be continues against john corazon and ex goldman i gary gensler is being painted as a tough new sheriff even though he abdicated oversight of the entire futures industry one m.f. global ago and its age of whistleblowers today actually yesterday snowden and then today bank of america thanks to two lawsuits we learned how the two big bill giant systematically built homeowners promise and loan modifications who then they proceeded to take out of those homes and you might have heard of the volcker rule that says banks cannot gamble with customer money lloyd blankfein said his goldman sachs doing this but guess what he did it we just learned that the firm found a loophole to keep doing it anyway over a billion dollars worth we'll learn how this is possible and how it might add we talked to part naylor a public citizen finally we have eliot spitzer who resigned in disgrace in two thousand and eight just as applied anshul panic was heating up well he's back and he's looking to oversee new york one hundred forty billion dollars city pension plan he won't

hundred year flood of it doesn't really it's not a cost that much today but let's talk about gary gensler now he is of course and we talked about this a couple weeks ago he is a guy who worked actually under a core resign when corazon was head of goldman sachs and gensler kind of abdicated his role as an investigator into this whole m.f. global mess when it came out and then you know he was in charge for a few days and they dropped out is he really the person that needs to be in charge of this swaps derivative market the seven hundred trillion dollar market as it exists today well it looks like he's going to go holy see if you see as a whole is is. is pretty much the entire commissioner slade is being turned over here i mean summers has left chilton's term has expired gensler is not going to seek renomination supposedly so i mean you might see a completely different commission six months from now but gensler i think his real skill is it's not so it's really like pretending like he's doing things to protect investors but what he's really doing is help protect the monopolies the big banks h

what it's about is gary gensler attempt to close the major gap in dodd frank which basically lets the american banks operate with out reform regulation provided that the email account on the e-mails ends in dot u.k. or dot caymans that is to say they book their transactions in london and so he is playing a high stakes game with his fellow commissioners there's five to get i three to vote on the guidance. part of this complication of how a bill becomes law that will say no you have to obey the full suite of american laws even if you operate in london whereas we need a five person commission and it all boils down to one commissioner his name is mark wage and he's the third democrat he is undecided and he is not sure what he's going to do and gary gensler is so far kind of been losing this battle and he's going to be removed or he's actually going to be out as a competition or is his replacement going to do any better it is hard to imagine somebody bringing more zeal and experience and knowledge of where all the bad stuff happens then gary gensler remember many of us were very nervous th

twenty three hundred page be a mouth that was supposed to fix our financial woes next goldeneye gary gensler was given regulatory control as head of the sea up to see over the lion's share of the seven hundred trillion dollar derivatives industry and he has to do is lee went to task on creating thousands of new regulations but he forgot something he was supposed to stay on top of the futures industry which is why this sea up d.c. was created in the first place that see it stands for commodities so his old boss at goldman sachs that would be junk or design who are going to profile today he blew up in the global and he threw the entire futures industry into disarray and mr gensler did nothing for four days then promptly recused himself from the entire matter we're going to talk about this with james cook tulis president of the commodity customer coalition in just a bit well gensler is on the way out ever had after having lost a major battle over to rivet as regulation with his fellow commissioners in just nine days a key provision that governs the ability of u.s. banks like j.p. morgan to skir

financial woes ex goldeneye gary gensler was given regulatory control as head of the sea up to see over the lion's share of the seven hundred trillion dollars derivatives industry and he has to do is lee went to task on creating thousands of new regulations but he forgot something he was supposed to stay on top of the futures industry which is why this sea up p.c. was created in the first place that see it stands for commodities so his old boss at goldman sachs that would be john corazon who are going to profile today he blew up in the global and he threw the entire futures industry into disarray and mr gensler did nothing for four days then promptly recused himself from the entire matter we're going to talk about this with james could tulis president of the commodity customer coalition in just a bit well gensler is on the way out ever had after having lost a major battle over to reduce regulation with his fellow commissioners in just nine days a key provision that governs the ability of u.s. banks like j.p. morgan to skirt the dodd frank it will expire if the exemption is not renewed r

about this with james cook tulis president of the commodity customer coalition in just a bit well gensler is on the way out ever had after having lost a major battle over to rebut as regulation with his fellow commissioners in just nine days a key provision that god.

cftc chairman gary gensler's term is up at the end of the year, leaving two vacancies for the obama administrationto fill. in today's cover story, a change to obamacare will give bigger businesses a bit of a break. penalties for firms of more than 50 who do not offer insurance plans to employees will go into effect in 2015, one year later than originally planned. but the move could cause more healthcare confusion. the change to its signature healthcare law shows the obama administration's willingness to listen to business concerns. "especially for the 50-and- above class, there is relief that it has been postponed. it gives them more time to communicate with employees and what is required of them by law." but the change can be a bit confusing. so-called obamacare still requires employers of more than 50 workers to offer coverage to employees working more than 30 hours a week. the companies just won't face the threat of penalty fees. "that mandate is still in place, but if a firm doesn't comply with the law, there will be no penalty." for employers, this delay underscores the uncertainty around the

gary gensler is a very abled guy, and we would -- i was worried last week when there was this effort,weeks ago, to weaken our bill with regard to the regulation of derivative activities by american banks in their overseas financial subsidiaries. and gary gensler and the administration hung tough and that was a major sign that this is going to be done well. but you mentioned one then that i'm glad that you did, and it's too often ignored, and that is the skin in the game. the single biggest cause, i believe, of the crisis, and people like michael lewis and others have documented this, is people began to make loans without being the ones who were going to be repaid. you know, 40 years ago, almost all of the loans were made to people who had to repay the personal man, and if i'm lending you money, i'm going to frisk you pretty good before i do it. and we have securitization, people can make loans and have no further concern. we mandated in that bill that if you're going to securitize these loans, you're going to take a percentage of the loss. i think that's the single best thing we did,

press have corridor not told though it may be continues against john corazon and ex goldman i gary gensler is being painted as a tough new sheriff even though he abdicated oversight of the entire futures industry one m.f. global ago and its age of whistleblowers today actually yesterday snowden and then today bank of america thanks to two lawsuits we learned how the two big build giant systematically built homes promise and loan modifications.

press have quarter not told though it may be continues against john corazon and ex goldman i gary gensler is being painted as a tough new sheriff even though he abdicated oversight of the entire futures industry one m.f. global ago and its age of whistleblowers today actually yesterday snowden and then today bank of america thanks to two new lawsuits we learned how the two big build giant systematically built homes promising loan modifications who then they proceeded to take out of those homes and you might have heard of the volcker rule that says banks cannot gamble with customer money lloyd blankfein said his goldman sachs doing this but guess what he did it we just learned that the firm found a loophole to keep doing it anyway over a billion dollars worth learned.

press have quarter not told though it may be continues against john corazon and ex goldman i gary gensler is being painted as a tough new sheriff even though he abdicated oversight of the entire futures industry one m.f. global ago and its age of whistleblowers today actually yesterday snowden and then today bank of america thanks to two lawsuits we learned how the too big to fail giant systematically built home over promise and loan modifications who then they proceeded to take out of those homes and you might have heard of the volcker rule that says banks cannot gamble with customer money lloyd blankfein said his goldman sachs doing this but guess what he did it we just learned that the firm found a loophole to keep doing it anyway over a billion dollars worth we'll learn how this is possible and how it might add we talked to part naylor a public citizen finally we have eliot spitzer who resigned in disgrace in two thousand and eight just as applied anshul panic was heating up well he's back and he's looking to oversee new york one hundred forty billion dollars city pension plan he won'

twenty three hundred page bill about that was supposed to fix our financial woes next goldeneye gary gensler was given regulatory control as head of the sea up to see over the lion's share of the seven hundred.

our financial woes ex goldeneye gary gensler was given regulatory control as head of the sea up to see over the lion's share of the seven hundred trillion dollar derivatives industry and he is situationally went to task on creating thousands of new regulations but he forgot something he was supposed to stay on top of the futures industry which is why this yep d.c. was created in the first place that see it stands for commodities so his old boss at goldman sachs that would be junk or design who are going to profile today he blew.

the head of the sec, mary jo white, and gary gensler from the commodities futures trading commission will testify before the senate banking committee about financial regulations and risk. live at 10:00 a.m. eastern. in 45 minutes, we will talk with the former head of the federal deposit insurance corporation, sheila bair, about monitoring the financial industry. he now chairs the systemic risk council. then the former head for the centers for medicare and medicaid services, tom scully, look set eligibility requirements and cost of the u.s. medicare program. later, bill allison of the sunlight foundation discusses congressional fund-raising third plus, your phone call, e-mail, and sweets. "washington journal" is next. ♪ with four days to go before congress leaves washington for the month of august legislative action focused on spending bills and possibly a deal on the student loan rate. here is what we are watching in washington today, a verdict is expected at 1 p.m. eastern in the bradley manning case. and the senate banking committee will talk with bank implementing the dodd frank r

banking committee will hear from mary jo white, that of the seekers exchange commission and gary gensler who edits the commodity futures trading commission. they will testify about systemic risk and financial markets. later on c-span3 the senate energy committee will hear from energy secretary on what to do with nuclear waste. that's at 2:30 p.m. eastern. the congressional black caucus on friday posted what they called an emergency summit to address violence and crime in urban communities. the forum at chicago state university is a less than two hours. >> good evening. good evening. >> good evening. >> well, thank you all for coming this evening on a friday night in chicago. how are you? we welcome you to the town hall of the national summit on urban violence, here at chicago state university. i first would like to introduce the president of the university, dr. wayne watson, take it is in greetings and welcome you to the university. dr. wayne watson. [applause] >> good evening. we can never acknowledge and thank those who have the courage to have vision and the courage to bring it forth.

committee will hear from mary jo white, the head of the securities and exchange commission, and gary gensler who heads the commodities futures trade commission. and later on c-span3 the senate energy committee will hear from energy secretary ernest moniz on what to do on nuclear waste. that's at 2:30 be p.m. eastern. >> when did we reach a point where you have to have a certain philosophy because of the color of your skin? [applause] when did that happen? you know? [cheers and applause] you know, a reporter once asked me why i didn't talk a lot about race, and i said because i'm a neurosurgeon. [laughter] okay in they thought that was pretty strange. and i said, you see, when i take someone to the operating room and i cut the scalp and take off the bone flap, i'm operating on the thing that makes that person who they are. the color doesn't make them who they are. when are we going to understand that? [cheers and applause] >> surgeon and author ben carson takes your calls, e-mail comments and tweets in depth three hours live sunday at noon eastern on booktv on c-span2. >> the president's chie

for gary gensler, same question about his ability to fund himself and his agency and their ability toage long-term planning. again i would commend him on the for moving has made derivatives to centralize clearinghouses. i think he is going to be leaving at the end of the year. i would ask them what more needs to be done. my personal view is derivatives are a tremendous problem. there is still a source of instability. host: we are going to be covering that hearing here on c- span. span3 at 10am. you heard some questions from s heila bair. you mentioned the slow going process of implementing the dodd frank bill. take a look at this, this is from 22010 to july 2013. goldman sachs has had 22 -- 220 two meetings. morgan stanley, 170 five. bank of america, 156. what do you make of those numbers? it just shows that there are reform groups out there pushing -- it shows how on evenly matched this debate is. that is one of the recently formed a systemic risk council. we try to provide some balance in the public discussion as well as the kind of feedback and input the regulators give. it is a hu

and big questions about the future of gary gensler and if he'll remain the head of the firm. >>> the dow closed at 15,224. indicated higher this morning. we'll check on the futures. so we have digested that move in the ten-year and we're almost back to -- >> it is working. it is working. >> what? we always said the near term it would be rocky and then long term maybe -- >> when do we say ben bernanke, he's done this right, we have been complaining. >> we're not going to know -- >> years from now. >> hasn't done any tapering yet. >> just getting warmed up. >> 4 trillion -- >> we're handling. >> it is working this week. it is going to be a bumpy summer. we have speeches, we have more meetings, we have to figure out who the next fed chairman is, that's -- >> what do you think, by the way, our friend mm, morning money, did you see the -- >> isn't cnbc more of an expert than split cpolitico on economi matters. what is ben saying today? >> that story we read yesterday which we did read about larry summers being a real possibility is actually a real possibility, meaning we sort of, i think,