Gary Gensler
speaker
60 appearances
5 recordings
4 series
first heard Jun 2024
last heard 2 Dec
Gary Gensler’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 1 in all, peaking in Dec 2025 with 1.
Appearances
By the way, this data center is operated by a third party.
It's not operated by CME.
So they have a contract for certain performance levels.
And they didn't go to their backup data center, which is, I think, located elsewhere in New Jersey.
If this were to happen at 10 a.m.
on a Monday...
I think the management team would make a different decision and probably would switch over to the backup data center more quickly.
The markets probably would have a little less liquidity.
Not every high frequency trading shop or principal trading firm has the same connectivity to the backup data center.
So that's an interesting business choice.
And for your institutional listeners, if that happened today,
they'd probably see a little less liquidity until they get back to that primary data center.
Right now, unfortunately, there's significant noncompliance, and it's a field which is rife with fraud, abuse, and misconduct.
Gary, we'll start with you. You've called Joe Biden an illegitimate president. What does that mean?
Bitcoin, wow, through the roof, another huge record.
The field is going to have a challenge building trust. Right. And it already has a challenge building trust when there's so many fraudsters, scammers, grifters in the field.
Look at the leading lights in this field, in the crypto field just two years ago. A number of them are in jail right now. And I'm not just talking about SBF. I mean, a number of others. And there's been tens of billions of dollars of losses and bankruptcies and so forth.
It's an innovation. But innovations don't long thrive if they don't also build trust. I mean, the automobile wouldn't have survived if you didn't have traffic lights, if you didn't have stop signs and even cops on the road to make sure there weren't accidents. And so that's part of our role is being cops on the beat.
Look, again, it's not so hypothetical because you're describing things that are in the public domain and the public is interested in. But generally speaking, you have to make sure that you don't mislead the public and that you don't in any way do things in the markets that may be... or manipulative or misleading. And so that's the key thing in our capital markets.
disclosure is one really key part of our capital markets. When you buy the stock of a company, you expect that they give you full and fair disclosure. That's, by the way, not what you're getting right now in this crypto field. So I just, you know, cautionary tale there, that disclosure. But disclosure doesn't necessarily protect a bad actor if they're manipulating a market.
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