FOR IMMEDIATE RELEASE
Monday, April 29, 2019
Contact: Carol Kaplan, 202-618-6430 or ckaplan@bettermarkets.com
Washington, D.C. – Dennis Kelleher, President and CEO of Better Markets, issued the following statement in remembrance of former CFTC Commissioner Bart Chilton:
“Former CFTC Commissioner Bart Chilton knew better than most how Wall Street’s biggest derivatives dealers used impenetrable jargon and created complexity as weapons to intimidate and bludgeon elected officials and policymakers. Rather than engaging them on the esoteric battlefield of their choosing, Bart moved the battle to the public sphere with a commitment to demystifying derivatives and making them interesting and understandable to a broader audience. He did that with élan.
“Like Jon Snow in Game of Thrones wielding Longclaw, Bart effectively cut through Wall Street’s propaganda with pop culture references and colorful language. Rather than just talking about latency, dark pools and payments for order flow, Bart talked about the “Cheetahs” using high frequency trading to rip off investors. Rather than just talking about swaps and proprietary trading, he gave a speech about derivatives regulation, including the Volcker Rule, filled with references to Bruce Springsteen songs. The Beatles, Pink Floyd and, of course, Glen Campbell also made frequent appearances in his speeches.
“I don’t know if there’s darkness on the edge of town, but I do know that this town, Washington DC, was much brighter and better off due to the years of his dedicated public service to the American people. He was an original and he will be missed.”
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Better Markets is a non-profit, non-partisan, and independent organization founded in the wake of the 2008 financial crisis to promote the public interest in the financial markets, support the financial reform of Wall Street and make our financial system work for all Americans again. Better Markets works with allies – including many in finance – to promote pro-market, pro-business and pro-growth policies that help build a stronger, safer financial system that protects and promotes Americans’ jobs, savings, retirements and more. To learn more, visit www.bettermarkets.com.
