Angry Bart Takes His Parting Shot
This article is for subscribers only.
Dec. 24 (Bloomberg) -- After almost 30 years in Washington,Bart Chilton will soon be taking his leave. For the past 6 1/2years, he has been an outspoken member of the Commodity FuturesTrading Commission, one of the financial industry’s mostimportant regulators.
Chilton leaves behind a sobering message: As we longsuspected, Wall Street continues to use every trick in itsplaybook to do whatever it can to eviscerate numerous post-financial-crisis rules. The arsenal includes high-poweredlobbyists who outnumber lawmakers 10-to-1; $1,000-an-hourletter-writing lawyers who gain strength from negotiating overarcana; and the occasional hoodwinking of a president whoseknowledge of the ways of finance are close to nil.