am hearing from people who say they have received brief email replies from
CFTC Commissioner Bart Chilton.
Apparently if there is a move afoot to can the silver investigation without
presenting any findings after four years, he has not gotten the memo. He has
informed the press about 'the erroneous story' according to some people who
say they have heard from him.
If this was a front page article on the Financial Times one would hope they
double confirmed it, and the sources were good. Otherwise one can risk being
badly used, especially in the financial press.
So let's see what happens. As I said in my lead sentence from
last night, this could have been a 'trial balloon'
to gauge the reaction and blowback if they did ditch the investigation, not
wanting to expose the findings, or expose a coverup
to later instances of perjury.
leak to the FT *could* just be a 'trial balloon' by Mr. Gensler
and his crew to see if they can get away with it. But that seems more like
the plot of a novel.
This could be one of the best examples of the credibility trap in action. The
government regulators can say nothing because of the shadow government's long
was the assistant to Robert Rubin and Larry Summers in the 1990's and is a
Goldman alumnus. Perhaps Bart as a dedicated civil servant is not on the