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(The New York Times)   New regulations protecting consumers from Wall Street brokers abruptly put on hold after Commodities Futures Trading Commission head Gary Gensler is hospitalized after breaking several ribs in a "fall" at his home   (dealbook.nytimes.com) divider line 30
    More: Unlikely, Gary Gensler, Commodity Futures Trading Commission, Commodity Futures, Wall Street, electronic components  
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1988 clicks; posted to Business » on 12 Sep 2012 at 4:11 PM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-09-12 12:55:10 PM
I just don't think people realize how strong that regulatory body needs to be.
 
2012-09-12 02:18:13 PM
That was just a warning, and let that be a lesson to the rest of you.

Oh, and the vigorish.
I forgot about the vig.

You owe us and you're gonna pay us.
 
2012-09-12 02:51:16 PM
With its chairman laid up, the agency has canceled a public vote scheduled for Wednesday. Instead, the agency's five commissioners will vote in private, producing a final tally by next week.

What reason other than some shady activity would you have for doing that? seems crazy
 
2012-09-12 03:01:50 PM
"he fell on some bullets"
 
2012-09-12 03:13:58 PM
Unless they're going to forbid bidding on commodities futures from everyone except folks who can take delivery, I don't want to hear it.
 
2012-09-12 03:16:02 PM

unlikely: "he fell on some bullets"


He threw himself at a crate of nightsticks.
 
2012-09-12 04:06:10 PM

Headso: With its chairman laid up, the agency has canceled a public vote scheduled for Wednesday. Instead, the agency's five commissioners will vote in private, producing a final tally by next week.

What reason other than some shady activity would you have for doing that? seems crazy


yeah i was really hoping they would provide some sort of justification for this in TFA. really weird
 
2012-09-12 04:06:10 PM

Vodka Zombie: unlikely: "he fell on some bullets"

He threw himself at a crate of nightsticks.


This Gensler was so upset about the lousy wrestling tonight, that he went down to the garage and in a fit of depression cut off his *own* head!
 
2012-09-12 04:18:00 PM
static1.businessinsider.com

Nice skeletal structure you have there, Mr. Regulator. It would be a shame if something was to happen to it.
 
2012-09-12 04:20:56 PM
Try messing with the Parade of Hope, they're the bad asses.

content9.flixster.com
 
2012-09-12 05:21:08 PM

gopher321: Vodka Zombie: unlikely: "he fell on some bullets"

He threw himself at a crate of nightsticks.

This Gensler was so upset about the lousy wrestling tonight, that he went down to the garage and in a fit of depression cut off his *own* head!


He hogtied himself and shot hisself in the back of the head. Twice.
 
2012-09-12 05:21:53 PM
He must've come home late last night and fallen down an elevator shaft. Onto some bullets.
 
2012-09-12 05:41:07 PM

Opiate of the Lasses: gopher321: Vodka Zombie: unlikely: "he fell on some bullets"

He threw himself at a crate of nightsticks.

This Gensler was so upset about the lousy wrestling tonight, that he went down to the garage and in a fit of depression cut off his *own* head!

He hogtied himself and shot hisself in the back of the head. Twice.


He poured that concrete around his own feet, drove to the docks, and jumped in the water by himself.
 
2012-09-12 06:15:20 PM
I was wondering when some oppressed citizen would snap and take to violence against these maniacal knee jerk regulators. I don't like violence but sometimes you have no choice.

Next time, you know, Bastille, guillotines, blah blah blah.

Power to the people!!
 
2012-09-12 06:56:50 PM
That's what you get for regulating Webistics.
 
2012-09-12 07:26:31 PM

thecpt: Opiate of the Lasses: gopher321: Vodka Zombie: unlikely: "he fell on some bullets"

He threw himself at a crate of nightsticks.

This Gensler was so upset about the lousy wrestling tonight, that he went down to the garage and in a fit of depression cut off his *own* head!

He hogtied himself and shot hisself in the back of the head. Twice.

He poured that concrete around his own feet, drove to the docks, and jumped in the water by himself.


He buried himself underneath the Meadowlands.
 
2012-09-12 08:23:10 PM

jayhawk88: thecpt: Opiate of the Lasses: gopher321: Vodka Zombie: unlikely: "he fell on some bullets"

He threw himself at a crate of nightsticks.

This Gensler was so upset about the lousy wrestling tonight, that he went down to the garage and in a fit of depression cut off his *own* head!

He hogtied himself and shot hisself in the back of the head. Twice.

He poured that concrete around his own feet, drove to the docks, and jumped in the water by himself.

He buried himself underneath the Meadowlands.


He wrapped himself in a rug, locked himself in the trunk, drove himself to the junk yard, operated the crane that put the car into the compactor, then hit the "start" button all on his own.
 
2012-09-12 10:00:37 PM
upload.wikimedia.org
 
2012-09-12 10:03:26 PM
A marathon runner and mountain climber known for being a taskmaster at the agency

In other words, he's an obsessive and a screamer at work. The fall was probably arranged by his staffers.
 
2012-09-12 10:36:27 PM
I believe it was a boaking accident.

/No pic. Im on mobile.
//eh, you get the reference.
 
2012-09-12 11:29:11 PM
It's just one of those AMAZING coincidences!
 
2012-09-13 01:00:14 AM
I broke a few ribs once. I was coming in hot to Turn 11 at Sears Point, I braked really hard, and the front end folded. I got spit off, did a superman, and cracked my ribs when I hit pavement.

Since the article guy probably wasn't racing a motorcycle, it's unlikely he has the same story.
 
2012-09-13 05:38:09 AM

thomps: Headso: With its chairman laid up, the agency has canceled a public vote scheduled for Wednesday. Instead, the agency's five commissioners will vote in private, producing a final tally by next week.

What reason other than some shady activity would you have for doing that? seems crazy

yeah i was really hoping they would provide some sort of justification for this in TFA. really weird


"Private" was just a really bad word-choice from the reporter. It's not "private" as in "secret", it's "private" as in "not holding a public meeting". It should've been "via seriatim" (aka via group email vote). They'll still realease opinions/speeches and the record of who voted for and against.

They obviously can't hold a public meeting while the head commissioner is in hospital. Voting via seriatim means they can still get the vote done. Nothing controversial/shady about it at all. (If you google it, the CTFC actually passes a fair number of regulations via seriatim.)
 
2012-09-13 05:58:12 AM
He better watch out for door knobs too. They can be treacherous.
 
2012-09-13 07:31:13 AM
Why should "fall" be quoted? Are you implying he broke his ribs completely without gravity assist?
 
2012-09-13 10:10:33 AM

LiquidSky: thomps: Headso: With its chairman laid up, the agency has canceled a public vote scheduled for Wednesday. Instead, the agency's five commissioners will vote in private, producing a final tally by next week.

What reason other than some shady activity would you have for doing that? seems crazy

yeah i was really hoping they would provide some sort of justification for this in TFA. really weird

"Private" was just a really bad word-choice from the reporter. It's not "private" as in "secret", it's "private" as in "not holding a public meeting". It should've been "via seriatim" (aka via group email vote). They'll still realease opinions/speeches and the record of who voted for and against.

They obviously can't hold a public meeting while the head commissioner is in hospital. Voting via seriatim means they can still get the vote done. Nothing controversial/shady about it at all. (If you google it, the CTFC actually passes a fair number of regulations via seriatim.)


thanks, that makes much more sense - more an issue for robert's rules of order than a john grisham book.
 
2012-09-13 10:15:38 AM

Terrified Asexual Forcemeat: Why should "fall" be quoted? Are you implying he broke his ribs completely without gravity assist?


Yes, unless the guy was punching downward. In that case, I could see gravity giving a bit of a boost.
 
2012-09-13 11:39:40 AM

TheBeastOfYuccaFlats: Unless they're going to forbid bidding on commodities futures from everyone except folks who can take delivery, I don't want to hear it.


I love it when people propose solutions guaranteed to make predatory price swings worse.

Go on - lobby your politicians to try it. I'm watching.
 
2012-09-13 12:41:20 PM

TheBeastOfYuccaFlats: Unless they're going to forbid bidding on commodities futures from everyone except folks who can take delivery, I don't want to hear it.


Uh huh. Here's a thought experiment: you're a chocolate maker and have bought a bunch of futures for delivery of cocoa later in the year. Suddenly a government report comes out saying that chocolate causes cancer. Chocolate sales plummet and you aren't going to need all that cocoa now. Absent 'speculators', who are you going to sell those futures to? All the other chocolate makers are in the same boat; they don't want the futures either. The value of your hedge goes to zero. When 'speculators' exist, there'll be a market and somebody on the other side to take the trade, and while you'll lose money, you won't lose it all. Plus you won't get the wild price gyrations that you get when something is thinly traded.
 
2012-09-13 01:04:03 PM

jjorsett: TheBeastOfYuccaFlats: Unless they're going to forbid bidding on commodities futures from everyone except folks who can take delivery, I don't want to hear it.

Uh huh. Here's a thought experiment: you're a chocolate maker and have bought a bunch of futures for delivery of cocoa later in the year. Suddenly a government report comes out saying that chocolate causes cancer. Chocolate sales plummet and you aren't going to need all that cocoa now. Absent 'speculators', who are you going to sell those futures to? All the other chocolate makers are in the same boat; they don't want the futures either. The value of your hedge goes to zero. When 'speculators' exist, there'll be a market and somebody on the other side to take the trade, and while you'll lose money, you won't lose it all. Plus you won't get the wild price gyrations that you get when something is thinly traded.


Investing (and business) is not a zero-risk situation. Nor should it be.

All your ideas are nice, in theory, but in practice the result is that speculators go from commodity to commodity, inflating futures prices far beyond the factors of supply and demand.

So I find your thought experiment entirely unconvincing.
 
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