First with the ‘Commodities Exchange Act’ of 1936, and then with the ‘Commodities Futures Trading Commission Act’ of 1974, the Federal government jumped with both feet into the Futures markets oversight and regulation business. The stated mission of the CFTC is to protect the public from fraud, among other things. Former CFTC commissioner Gensler has stated publicly that the CFTC and NFA "dropped the ball" in their oversight of Peregrine Financial(http://agriculture.house.gov/sites/republicans.agriculture.house.gov/fil...). We the people are going through a sea change level crisis of confidence about the financial markets, and the people we pay to oversee the markets must make it right. Former PFG customers must receive 100% of their funds, plus interest.
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