Amarath Settlement Calls CFTC Authority Into Question, Say Senators

When current Commodity Futures Trading Commission Chairperson Timothy Massad mentioned early in his term that he wanted the agency to be less combative and more cooperative, the code words were clear to some both inside and outside the agency.  The powerful who abuse their elite status to manipulate markets and block investigations might not be confronted as aggressively as in the past. The issue of the CFTC treating elite Wall Street players with kid gloves when they manipulate markets could be the motivation for a recent letter from three U.S. Senators harshly criticizing the agency. CFTC’s settlement with Amaranth Advisors…