C.F.T.C. chairman to address bakers
Sept. 8, 2011
by Josh Sosland
WASHINGTON — Commodity price volatility will be the topic Sept. 21 when Gary Gensler, chairman of the Commodity Futures Trading Commission, addresses a joint meeting of the American Bakers Association and the Allied Trades of the Baking Industry.
The two groups will have a joint meeting in Washington.
Robb MacKie, president and chief executive officer of the A.B.A., said commodity market volatility ranks atop issues of concern to the baking industry.
“We are very eager to get a first-hand update from the leading authority on this issue,” Mr. MacKie said.
In particular, he said the A.B.A. is interested in Mr. Gensler’s views on a baking industry request to place position limits on commodity index funds; C.F.T.C. efforts to address volatile markets and restore consumer confidence; and the implementation of key Dodd/Frank provisions.
“This will be a tremendous opportunity for A.B.A. and A.T.B.I. leaders to bring their questions directly to the C.F.T.C. chairman,” Mr. MacKie said. “We thank Chairman Gensler for making time to be with our members, and for all that he has already done for our industry. We are very lucky to have him in our corner as we work toward a better environment for both business and consumers.”
Mr. Gensler has been chairman of the C.F.T.C. since May 2009, after having previously served at the U.S. Department of the Treasury as under secretary of domestic finance and as assistant secretary of financial markets.
He was a senior adviser to the chairman of the U.S. Senate banking committee, and spent 18 years at Goldman Sachs where he was named a partner and served as co-head of finance.