The Ex-Banker Behind The LIBOR Probe Is Cracking The Whip On An Industry That Made Him Millions

gary genslerGary Gensler

Gary Gensler had a long career at Goldman Sachs before taking the helm of the Commodity Futures Trading Commission – an agency now loathed by many Republicans and bankers.The LIBOR investigation – which accuses banks of knowingly submitting false data that distorted one of the world’s most important financial benchmarks – has put the CFTC and its chairman in the spotlight.

On Sunday, the New York Times profiled Gensler, revealing a regulator who made the switch to the private sector while retaining the intensity of a banker.

Gensler joined the Treasury Department after an 18-year career with Goldman.

During the Clinton administration, Gensler spearheaded the expansive deregulation of an industry he’s now policing aggressively, the Times reported.

And he’s regulating that industry with the fervor of a man who’s not only a former longtime banker but also a marathon runner and rock climber.

He pushes his staff to finish their work quickly. Last year an earthquake forced his staff out of the building, so he had them gather in a small cafe so they wouldn’t lose a few hours of work, the Times reported.

From the Times article:

“Mr. Gensler, a father of three daughters, agrees that he has yet to shake his penchant for deal-making. When negotiating over the wording of a rule, he still props up his socked feet on an employee’s desk, a habit common to bankers. His efforts now, however, are directed at reforming the industry that once made him millions.”

Check out the full Times article here.

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