who wants to know why we need organizations like the CFTC.

Got this from the CFTC website:

"An Important Mission in the Ever-Changing World of Finance

Congress created the Commodity Futures Trading Commission (CFTC) in 1974 as an independent agency with the mandate to regulate commodity futures and option markets in the United States. The agency's mandate has been renewed and expanded several times since then, most recently by the Commodity Futures Modernization Act of 2000.

In 1974 the majority of futures trading took place in the agricultural sector. The CFTC's history demonstrates, among other things, how the futures industry has become increasingly varied over time and today encompasses a vast array of highly complex financial futures contracts.

Today, the CFTC assures the economic utility of the futures markets by encouraging their competitiveness and efficiency, protecting market participants against fraud, manipulation, and abusive trading practices, and by ensuring the financial integrity of the clearing process. Through effective oversight, the CFTC enables the futures markets to serve the important function of providing a means for price discovery and offsetting price risk.

The CFTC's mission is to protect market users and the public from fraud, manipulation, and abusive practices related to the sale of commodity and financial futures and options, and to foster open, competitive, and financially sound futures and option markets."

Comment:

Now I'm no rocket scientist, but I know this.

Everytime any government creates a commission, be it permanent or temprary, it is alway, without fail, subject to interference by those that created it in the first place.

Suggest the market, is big enough, smart enough, dumb enough and capable enough to regulate itself.

(I intended to take this further, but calmed down just in time).

Good Luck to all!