By Phil Mattingly
April 22, 2015, Bloomberg Business
On one of his last nights as chairman of the Commodity Futures Trading Commission, Gary Gensler thanked Elizabeth Warren. There were others on the list he ticked through at the affair packed with congressional aides, government officials and even a few lobbyists, but Warren, the Massachusetts senator and star of the left, was one of the first–a recognition for Warren’s role in helping Gensler transform the CFTC from a regulatory backwater into a tough Wall Street cop. "Five years ago, when the president was formulating his financial reform proposals, he placed tremendous confidence in this small agency," Gensler, who led off his remarks quoting President John F. Kennedy, told the crowd. "This confidence in the CFTC was well placed."
It was a notable bookend to Gensler’s transformation from senior Wall Street executive to one of its chief antagonists. It’s a transformation his new boss, Democratic presidential candidate Hillary Clinton, appears inclined to embrace herself. Clinton cares what Warren thinks. It’s why the two met privately to talk policy, and it’s as good a reason as any for why Clinton penned a glowing piece on Warren for Time’s “100 Most Influential People.” And Clinton’s hiring of Gensler as her campaign's chief financial officer was seen as another savvy, yet somewhat transparent, message to the left that she hears the concerns that she is too close to Wall Street. "This is sending a signal," says former Representative Barney Frank of Massachusetts, himself a veteran of battles over Wall Street regulation during his time in Congress.
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