CFTC Commissioner Bart Chilton on HFT regulations, silver manipulation probe & MF Global
We talk to CFTC Commissioner Bart Chilton about what should be done about algorithmic and high-frequency trading, and why it has taken so long. We mention the work of Eric Hunsader and his team at Nanex, who saw significant improvements on the data side of markets following the Knight Capital debacle and a decline in HFT manipulation, which he attributes to a rare enforcement of regulations. We ask Bart Chilton if ENFORCEMENT is the issue, and not the creating of new regulations. Plus we ask about how the law needs to change in order to make bringing fraud charges forward easier. Then we talk about some of the suspicious information that has surfaced since those "chaotic final days" at MF Global, and ask if Bart thinks anything may come from this? Lastly, Congress returned to work today, and they have seven weeks left to avert the Fiscal Cliff. We are sick of the term, and last week we asked you to rename it on Facebook – the response was overwhelming! Lauren reveals our top 10 new names in today’s Loose Change.