Gary Gensler, Wall Street’s Arch Enemy, Departs CFTC

Gary Gensler, a Wall Street guy who turned Wall Street fighter, ended his tenure as Chairman of the Commodity Futures Trading Commission (CFTC) on Friday. Gary Gensler took center stage in the efforts to reform the country’s systems in the wake of the financial crisis. He assumed control of a low-profile, almost obscure CFTC, and as its chair, soon spearheaded the regulatory and supervisory movement to rein in the disruptive risks that could emerge from the hitherto mostly unregulated derivatives and swap markets that traded in trillions of dollars. The landmark Dodd-Frank Act, so loathed by big Wall Street players,…