Business: Commodities Cop Cannonaded

But the CFTC will probably survive "sunset"

No federal agency has been the butt of such angry cannonades as the Commodity Futures Trading Commission. The CFTC, formed in 1975 to police the trading of commodity futures following widespread charges of price fixing, fraud and manipulation of customers' accounts, deserves a lot of criticism. As a notorious example, it took the commission almost a year to discover that "James Carr," who is alleged to have bilked customers of perhaps $25 million by selling bogus option contracts, was actually an escaped convict named Alan Abrahams.


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