April 22, 2010
By Michael Scherer
The first time Gary Gensler met with an elite group of Wall Street moguls in a private room at the Willard Hotel, they did not pay him any mind. He was just an Obama-campaign envoy seeking support from CEOs. "I don't think I will be able to stick around," Goldman Sachs boss Lloyd Blankfein said just as Gensler arrived.
Times have changed. When Gensler met the group again a few weeks ago as the head of the U.S. Commodity Futures Trading Commission, the lords of finance sat up straighter in their chairs. Wall Street no longer goes to Washington to dictate terms; it goes to beg for mercy (and to rally its lobbyists). The meeting, scheduled for 45 minutes, lasted 75. And the CEOs of JPMorgan, Goldman Sachs, Wells Fargo and Fidelity, Gensler recalls, "never left the table."…
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Last Updated: December 27, 2013