Financial system “failed American public”, says Gensler

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The US financial system “failed the American public” during the market meltdown of 2008, according to Gary Gensler, chairman of the US Commodity Futures Trading Commission (CFTC).

“The whole financial system failed last year – it failed in so many different ways,” says Gensler, in an exclusive interview with Risk.

While the CFTC was not in the middle of last year’s banking crisis brought on by the collapse of Lehman Brothers in September, there was more the agency could do to ensure markets func