Capital Account Season 1 Episode 114 CFTC Commissioner Bart Chilton On HFT Regulations, Silver Manipulation Probe & MF Global

Capital Account is a daily show that airs on RT America, exploring the world of finance, politics, and economics with an emphasis on alternative perspectives and critical analysis. Season 1, episode 114 features an interview with the then-Commissioner of the United States Commodity Futures Trading Commission (CFTC), Bart Chilton, who shares his insights on high-frequency trading (HFT) regulations, the silver manipulation probe, and the MF Global scandal.

Hosted by Lauren Lyster, the episode begins with a discussion on HFTs and their impact on the financial markets. Chilton, who was known for his attempts to regulate HFTs during his tenure at the CFTC, explains how these algorithms work and why they are a cause for concern. He highlights the need for transparency and monitoring in HFTs, particularly in light of the publication of Michael Lewis's book, “Flash Boys."

The conversation then shifts to the silver market, which has been the subject of a CFTC investigation into allegations of manipulating the price of silver. Chilton shares his thoughts on the ongoing probe and the challenges of investigating market manipulation. He also discusses the importance of protecting whistleblowers and the need for a cultural shift within the financial industry to promote ethics and accountability.

Finally, the discussion turns to the MF Global scandal, in which the futures brokerage firm, headed by former New Jersey governor Jon Corzine, went bankrupt in 2011 after making risky bets on European debt. Chilton, who played a key role in investigating MF Global, recounts his experiences during the investigation and reflects on the lessons learned from the collapse of the firm. He highlights the need for stronger regulations and oversight in the industry to prevent similar crises from occurring in the future.

Throughout the episode, Chilton provides an informed and candid perspective on some of the most pressing issues in the financial world, drawing on his experiences as a public servant and his expertise in market regulation. The episode offers a valuable insight into the challenges facing regulators and the financial industry, and the importance of transparency and accountability in ensuring a fair and stable financial system.