Sunday, March 3, 2013

US Gov't Ineptitude - even when they get one right

Jesse summarizes and links to an incredible story.  The US Federal Energy Regulatory Commission won a verdict for a $30M fine against a former natural gas trader at Amaranth Advisors for manipulating the gas market.  And now, incredibly another US government agency the US Commodity Futures Trading Commission (CFTC) is backing a suit asking a Federal appeals court to overturn the fine.  

The US government has become so corrupt and inept that they are working against each other - let alone for 99.9% of its people.  I wonder how many consulting contracts or promises of future employment the CTFC commissioners have received from Amaranth and this trader.

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